FROM Heidi Moore
If Dodd-Frank disappears, what happens to the US economy? President Trump says he wants to get rid of Dodd Frank, the legislation reining in big banks. We talk about what that would do to the economy and consumers.
Why Hasn’t the Carried Interest Tax Loophole Been Eliminated The average hedge fund lost money for investors last year, but top 25 American hedge fund managers raked in $13 billion. That’s more than the entire economies of many countries. One reason for all this wealth is the carried interest tax loophole, which allows incentive fees earned by investment managers to be treated as capital gains, which are taxed at a rate about 20 percent less than income. The so-called loophole is something all three presidential candidates want to eliminate, and yet President Obama hasn’t done so. Why not?
When $182 Billion Just Isn’t Enough One of the biggest financial bailouts of all time is going on trial today. The former CEO of A.I.G., Maurice “Hank” Greenberg, is suing the government, claiming that the $182 billion bailout was illegal... because it was too low. We look at what the trial could reveal about big decisions made during and after the financial crisis.
Herbalife Troubles The Federal Trade Commission opened an investigation yesterday into whether Herbalife operates as a pyramid scheme. The L.A.-based company sells vitamins, protein shakes and other health supplements. It relies on about three million independent distributors worldwide to move its products. We talk about the latest issues the company faces, and we hear how one billionaire hedge fund manager pushed for the government investigation.
Are America's Financial Institutions Still 'Too Big to Fail?' Five years ago this week, the bankruptcy of Lehman Brothers led to America's worst financial crisis since the Great Depression. The Bush and Obama Administrations used billions of taxpayer dollars to bail out banks that were so big their failure would have hurt the economy even more. Now some of those banks are bigger than ever. Will that lead to another round of excessive risk-taking by executives and investors confident of another government bailout? JP Morgan Chase is America's biggest bank. Today, JP Morgan Chase made a rare admission that it did wrong — to the tune of $920 million in fines to four regulatory agencies. The Dodd-Frank bill was supposed to prevent a repeat of the Great Recession. We talk to former Congressman Barney Frank and others. Should Main Street be worried about the future of Wall Street?
Brad Gooch: Rumi's Secret Biographer Brad Gooch reveals that he traveled 2500 miles to trace Rumi's footsteps, learned Persian and spent eight years to write Rumi's Secret: The Life of the Sufi Poet of Love.
Who is winning the fight to control LA’s public schools? Twenty-two people were killed by a suicide bomber last night at an Ariana Grande concert in Manchester, England. Who was the terrorist and what does the attack mean for Manchester’s immigrant community? Also, we talk to newly elected LAUSD school board member Kelly Gonez and Alex Caputo-Pearl, head of the LA teachers union, about the most expensive school board race in the country’s history, the conflict between the union and charter school supporters, and the future of LA’s public schools.
What's at stake for US-international relations after intel leak to Russia? News broke Monday that President Trump divulged classified information to Russian officials. Israel was reportedly the source of this information. We assess the fallout.
Political hopeful Joe Bray-Ali explains his controversial comments LA City Council District 1 candidate Joe Bray-Ali hopes to unseat Gil Cedillo, but offensive comments he made online have given some of his supporters pause. He defends himself, explains why he failed to pay $48,000 in taxes, and suggests what he’ll do if he loses Tuesday’s election.