Is Greece Too Big to Fail? What's Next for the Dodgers?
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During their angry divorce proceedings it's been revealed that Frank and Jamie McCourt made $108 million without paying any taxes. What will their finances--and their increasingly public feud--mean for the Dodgers? Also, a local Democrat is the state's newest Assembly Speaker. On our rebroadcast of today's To the Point, Greece is on the brink of financial ruin, and proposed austerity measures have sparked strikes and street demonstrations. How did Wall Street banks help create the crisis? Will hedge funds reap profits by making things worse?
Banner image: Owner Frank McCourt (L), with wife and Dodgers president, Jamie McCourt, (far R), of the Los Angeles Dodgers take their separate seats during Game One of the NLCS agianst the Philadelphia Phillies during the 2009 MLB Playoffs at Dodger Stadium on October 15, 2009 in Los Angeles, California. Photo: Kevork Djansezian/Getty Images
Greece: A Country that's Too Big to Fail ()
According to one official at the International Monetary fund, "if a government wants to cheat, it can cheat." So it was "perfectly legal" back in 2001 for Goldman Sachs and other bankers on Wall Street to help Greece borrow beyond its means. That's according to Nelson Schwartz, financial reporter for the New York Times.
- Nelson Schwartz: European Economics Correspondent, New York Times, @NelsonSchwartz
- Nick Malkoutzis: Deputy Editor, Kathimerini's English-language edition, @NickMalkoutzis
- Marshall Auerback: Market Analyst, RAB Capital
- Megan Carpentier: Contributor, Washington Independent
John Perez, First Openly Gay Assembly Speaker, Sworn In Today ()
Democrat John Pérez was sworn in as the Speaker of the California State Assembly today. A former executive of the Food and Commercial Workers' Union still in his first term as a legislator, he's the 68th person in what's called California's second-most powerful elected office and the first to be openly gay. Patrick McGreevy reports from Sacramento for the Los Angeles Times.
- Patrick McGreevy: Reporter, Los Angeles Times
How Is the McCourts' Divorce Affecting the Dodgers? ()
The latest act in what Kevin Roderick of LA Observed calls the "best soap opera" in town came last week when lawyers for Jamie McCourt released papers showing that she and estranged husband Frank took home $108 million in income between 2004 and last year — without paying a dime in local, state or federal taxes.
- T.J. Simers: Sports Columnist, Los Angeles Times
- Andrew Zimbalist: Professor of Economics, Smith College
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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