America's Financial Crisis at the Doorstep of City Hall
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A conversation with Los Angeles Mayor Villaraigosa about his review of city operations, borrowing and management of pension funds in the midst of the crisis on Wall Street. Also, California's US Senators blister Metrolink management for not installing safety equipment.
Main Topic
How the Federal Bailout Will Affect Los Angeles ()
The Los Angeles City Council today asked Congress not to approve the Bush Administration's Wall Street bailout. Saying that "the unprecedented upheaval on Wall Street demands unprecedented vigilance at City Hall," Mayor Antonio Villaraigosa ordered all departments – including the port, the airport, the Department of Water and Power and city pension funds -- to review their portfolios and their prospects for borrowing money. The Mayor declared that LA residents "should not have to pay for the sins of corrupt Wall Street power brokers." We talk with the Mayor and others about the possible repercussions of what's happening in New York and Washington, DC.
Guests:
- Rick Orlov: City Hall Bureau Chief, Los Angeles Daily News, @Rickorlov
- Nancy Sidhu: Vice President, LA Economic Development Corporation
- Antonio Villaraigosa: Mayor of Los Angeles, @villaraigosa
Making News
Senate Briefing on Metrolink Crash ()
"We regulate in this country by counting tombstones…If you don't have enough people dead, not much gets done." That grim assessment came today before the US Senate Commerce Committee in the aftermath of 25 deaths in the Metrolink train crash that happened ten days ago. Steve Hymon writes the Bottleneck Blog for the LA Times.
Guests:
- Steve Hymon: Reporter for the Los Angeles Times
Underwriters
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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