Finance Reform in DC; Goldman Sachs and the Campaign for Governor
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Unparalleled campaign spending has made former eBay CEO Meg Whitman the leading Republican candidate for Governor of California. Have special favors from Goldman Sachs come back to haunt her? Also, the stolen iPhone prototype and Apple's clout with local police. On our rebroadcast of today's To the Point, with voters outraged about Wall Street's perceived role in the financial crisis, Democrats and Republicans appear to be playing "chicken" with finance reform. We look at the likely product of sausage-making in an election year.
Banner image: Meg Whitman speaking at an event in Redwood City California on April 23. Photo: Eric Draper/Meg Whitman for Governor 2010
Finance Reform: Public Anger and Partisan Politics ()
Yesterday, all the Senate Republicans and one Democrat voted not to allow a finance reform bill to go to the floor for debate. They claim they're trying to make improvements before they vote on the measure itself.
- Michael Crittenden: Reporter, Dow Jones Newswires
- Heather McGhee: Director, Demos' Washington Office
- William Isaac: Chairman, LECG Financial Services
- James Barth: former Chief Economist, Office of Thrift Supervision
Meg Whitman and Goldman Sachs ()
In 2002, a Congressional Committee released a list of top corporate executives who had received personal investment offers from Goldman Sachs, which wanted to do business with their companies. Making such offers, called "spinning," is now illegal. Meg Whitman, then CEO of eBay, was also on Goldman's Board. She accepted more than 100 of those offers, and she made $1.8 million. Now that Whitman's a candidate for Governor of California, LA Times business columnist Michael Hiltzik says that's news.
- Michael Hiltzik: Business Columnist, Los Angeles Times, @latimeshiltzik
- Tucker Bounds: Communications Director, Whitman Gubernatorial Campaign
Did Gizmodo Break the Law or Commit Good Journalism? ()
Last week, the high-tech website Gizmodo posted pictures and video of an iPhone prototype not yet on the market. When Gizmodo blogger Jason Chen came home Friday night, he found that law enforcement agencies had broken into his home, backed by a search warrant.
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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