Goldman Sachs and Finance Reform; The State of LA
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Los Angeles won't have to lay off 4000 workers or shut down government two days a week, but it will need to cut services and reduce staff. That's according to budget proposals released today by Mayor Villaraigosa. We hear what he said and get reaction from business, labor and council members. On our rebroadcast of today's To the Point, Democrats and Republicans are trying to use public anger at Wall Street to boost their chances in this year's elections. We hear how Goldman Sachs has become the poster child for finance reform.
Goldman Sachs, Public Anger and a Possible Crackdown on Wall Street ()
After weeks of secret negotiations, the Securities and Exchange Commission aimed at the fattest target on Wall Street and charged Goldman Sachs with securities fraud. Normally such votes are unanimous, but this time it was three to 2 with two Democrats and an Independent prevailing over two Republicans.
- Gretchen Morgenson: Business Columnist, New York Times
- Shailagh Murray: Congressional Correspondent, Washington Post
- Stephen Moore: Member of the Editorial Board, Wall Street Journal
- Barry C. Lynn: Senior Fellow, New America Foundation
Mayor Villaraigosa and the State of the City ()
This was the day for Los Angeles Mayor Antonio Villaraigosa to put up or shut up with regard to city finances, the Department of Water and Power and relations with the City Council. Just a few days ago, he warned that whole departments might have to shut down for two days a week and that 4000 workers might have to be laid off. Credit agencies lowered LA’s rating. Today, the Mayor presented a new budget and addressed the State of the City.
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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