Which Way, L.A.?
Big Banks, Big Bonuses and Big Government
A federal judge has accused two Wall Street firms of "lying to their shareholders" about executive compensation. At the same time, big banks that got taxpayer bailouts are resuming the practice of guaranteeing multi-million-dollar bonuses that don't depend on performance. Are new regulations needed? Also, documents show that Karl Rove played a key role in the firing of US Attorneys. On Reporter’s Notebook, how much do the Taliban and al Qaeda depend on the drug trade? Note: During KCRW’s Summer Sign-up, we are airing the complete rebroadcast of today’s To the Point in place of Which Way, LA?.
By Warren Olney • • 50m ListenNote: During KCRW’s Summer Sign-up, we are airing the complete rebroadcast of today’s To the Point in place of Which Way, LA?.
A federal judge has accused two Wall Street firms of "lying to their shareholders" about executive compensation. At the same time, big banks that got taxpayer bailouts are resuming the practice of guaranteeing multi-million-dollar bonuses that don't depend on performance. Are new regulations needed? Also, documents show that Karl Rove played a key role in the firing of US Attorneys. On Reporter’s Notebook, do opium poppies fund religious extremists or do drug traffickers also trade in religion?
Banner image: Bank of America CEO Ken Lewis (R) and Merrill Lynch CEO John Thain shake hands at a press conference at Bank of America headquarters September 15, 2008 in New York City. Photo: Mario Tama/Getty Images
In this episode
3 storiesDocs Show Rove Played Key Role in US Attorneys' Firings
A former federal prosecutor, fired during the Bush Administration, says White House e-mails now confirm his "worst nightmares:" that Karl Rove and his deputies violated the law. David Iglesias was the US Attorney for New Mexico, and he spoke with Michael Isikoff of Newsweek magazine.
Read the story8 minBig Banks, Big Bonuses and Big Government
Even when Wall Street banks were losing money and receiving taxpayer bailouts, top traders were getting multi-million-dollar bonuses. Now some of the same institutions are at it again, guaranteeing big money even before any work is performed.
Read the story33 minFollowing the Opium Money in Afghanistan
A Senate committee says two federal agencies have lowered conventional estimates of how much drug money is going to the Taliban in Afghanistan and Pakistan. The CIA and Defense Intelligence Agency say the Taliban get about $70 million a year from Afghanistan's opium poppies, much less than the $400 million estimated by the UN last year.
Read the story11 min
