Budget Update; Foreclosures in Southern California
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US Senator Barbara Boxer says the deadlock in Sacramento threatens federal stimulus money for California. We hear about that and look at the unlikely prospects for change after next month's election in the City of LA. On our rebroadcast of today's To the Point, in Arizona today, President Obama outlined his massive new plan to deal with the mortgage crisis. He explained why he thinks it's worth $75 billion.
Main Topic
Barack Obama and Housing Foreclosures ()
In Phoenix, Arizona today, President Obama says it's worth $75 billion to rescue nine million homeowners already in default or “underwater” with loans worth more than their houses. He said his plan would not reward “the unscrupulous or irresponsible” -- speculators, dishonest lenders or buyers who knew they were assuming obligations they couldn't afford. We hear how homeowners can qualify for assistance and get some informed reaction.
Guests:
- Peter Coy: Economics Editor, BusinessWeek
- Peter Morici: Professor of Business and Economics, University of Maryland
- Russell Roberts: Professor of Economics, George Mason University
- April Charney: Senior Attorney of the Consumer Unit, Jacksonville Area Legal Aid
Making News
Budget Gridlock Continues in Sacramento ()
In Sacramento today, US Senator Barbara Boxer met with fellow Democrats in the Assembly and Senate, then had a warning about the continuing deadlock over the budget. Anthony York is Editor of the Capitol Weekly.
Guests:
- Anthony York: Capitol Weekly, @AnthonyYorkLAT
Links:
Main Topic
Foreclosures in Southern California ()
Although the details of the President’s home mortgage plan won’t be released for two weeks, the White House revealed quite a lot today. We hear more about the plan and how it could impact Southern California homeowners.
Guests:
- Esmael Abidi: Director, Chapman University’s Anderson Center for Economic Research
- Tony Mize: Member, Inland Empire Economic Partnership
Guest Interview
On the Mayoral Race and LA City Politics ()
Los Angeles' next city election is less than three weeks away, but Mayor Villaraigosa and his allies have weak opposition, and it's unlikely that much will change when the voting is over. As President of the Mayor's Planning Commission, Jane Usher won high praise from homeowner groups and civic bloggers who say that developers have too much clout at City Hall. She resigned to give the Mayor what she called “fresh eyes” for his inevitable second term, but in a letter urged him, among other things, to “please reject the careless, sprawl-inducing approach of adding density at every rapid bus stop.”
Guests:
- Jane Usher: former President, Los Angeles City Planning Commission
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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