Patt Morrison for Tuesday, June 16

New Taxes or Cut Programs? Never!

So what’s going on with the infamous California budget and the see-saw between taxes and program cuts? It’s up to the Democrats now to cut billions off the budget or find the money to make up the difference – can they?

Obama's Extreme Regulatory Makeover

A focal point of the 2008 presidential campaign, President Obama is about to propose sweeping reforms of the U.S. regulatory regime and ostensibly fulfill his promise to prevent a future economic collapse like we’ve experienced over the past year. The original idea was to consolidate and further empower the various regulatory agencies that now act as economic watchdogs in the government, but the President’s proposal—to come in a speech tomorrow—might be much less ambitious. Will the President’s regulatory makeover work?

Breaking the Bank

The bets, huge and risky. The upside, undeniable—banks reaped billions and dominated competitors…until Wall Street nearly broke the banks. FRONTLINE documentary producer Michael Kirk joins us with his hard-hitting, insider’s look at Bank of America’s Ken Lewis.

Private Donors to Fund the Big Parade

Will the celebration on Wednesday get ugly and be ruined by out-of-control Laker fans? Patt talks with Councilman Eric Garcetti about the the private donations, the possible violence and the hope that the parade will serve as a small stimulus to downtown Los Angeles.

Lusting for Objects

From sleek shiny laptops to fast new Mini Coopers and the latest greatest iPhones, we seem to be intrigued by bright, shiny new things - and lust to own them. Deyan Sudjic, director of the London's Design Museum and author of The Language of Things: Understanding the World of Desirable Objects, tells us why we covet expensive designer goods. Is it aesthetics or just a matter of keeping up with the Joneses?