Big Fires Raise Big Questions about Money
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As the fire season really gets underway, state and local budget cuts raise challenging questions. Will firefighters always be available? Should homeowners near wilderness fire zones pay for their own protection? Also, will new players help the Dodgers make the playoffs? On oure rebroadcast of today's To the Point, banks that were "too big to fail" were rescued from the consequences of bad decisions with taxpayer money. They're beginning to pay it back at the same time, they've grown even bigger. What does that mean for consumers? Can government get the banks under control before they get reckless again?
Main Topic
Too Big to Fail...and Still Growing ()
Banks that were rescued as “too big to fail” are now bigger than ever. JP Morgan Chase, Bank of America, Wells Fargo and Citigroup now issue half of America’s mortgages and two-thirds of its credit cards.
Guests:
- David Cho: Staff Writer, Washington Post
- Daniel Gross: Economic Columnist, Newsweek and Slate, @grossdm
- Felix Salmon: Finance blogger, Reuters, @felixsalmon
- Mark Zandi: Chief Economist, Moodys Economy.com
Links:
- Zandi's 'Financial Shock: Global Panic and Government Bailouts--How We Got Here and What Must Be Done to Fix It'
- Salmon's blog on B of A negotiations to repay TARP bailout
- Gross' column on the profitability of the TARP bailout
- Cho's article on growth of 'too big to fail' banks
- Gross' 'Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation'
- Troubled Asset Relief Program (TARP)
Main Topic
Big Fires Raise Big Questions about Money ()
Firefighters got a break from the weather today as clouds moved in and increased the humidity. At a command center today, Governor Schwarzenegger congratulated firefighters who are being sorely tested by so many blazes in so many places. So far, state and local budget shortfalls have not reduced state and local resources. But fire season is just beginning.
Guests:
- Val Zavala: Anchor, 'SoCal Connected', @valzavala
- Carroll Wills: Communications Director, California Professional Firefighters
- Marc Lifsher: Reporter, Los Angeles Times
- Timothy Duane: Associate Professor of Environmental Studies, UC Santa Cruz
Links:
- Station Fire
- Oak Glen Fire
- Governor and Fire Service renew call for Emergency Response Initiative
- Governor Schwarzenegger's Emergency Response Initiative
- Two LA County Firefighters fall in massive Station Fire
- SoCal Connected's updates on California wildfires
- Lifsher's article on likely insurance rate hikes as result of fires
Reporter's Notebook
Dodgers Pick Up Two New Players ()
The Dodgers lost to the Diamondbacks last night, 5-to-3 in ten innings, but during the game they picked up two players who might help them get to the World Series. Matt "Money" Smith is co-host of Petros and Money on KLAC-AM 57.
Guests:
- Matt 'Money' Smith: Co-host, 'Petros and Money', @mattmoneysmith
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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