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March 17 - 21, 2008
Monday, March 17
Bear Sterns Debacle and the Stock Market
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The collapse, Fed intervention, and fire sale to JP Morgan of investment bank Bear-Sterns sent ripples through world financial markets today. Now investors are fearful that other banks heavily invested in mortgage-backed securities could become casualties of the sub-prime loan mess. Can the Fed and other central banks stop the slide? Patt finds out.
- David Johnson: Stock Broker/Analyst and Marketplace's Wall Street Guy
- Paul LaMonica, editor at large for CNNMoney.com
Budget Cuts -- Nightmare for Small School Districts
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Gov. Arnold Schwarzenegger announced he will cut over $4 billion in education funding in order to take a chunk out of the state's $16 billion deficit. School districts across Southern California now find themselves facing the hardest question: what do they give up? Some schools are planning on letting go of classroom teachers, specialists, psychologists, administrators and more. Other schools worry the funding reductions will affect arts and music programs. Across the region, educators and parents express outrage at what some call draconian cuts to the state's education system.
- Dave Long, California Secretary of Education
- Robert Watanabe, Superintendent of Bassett Unified School District
- Norbert Genis, Superintendent of El Rancho Unified School District
Living with Blindness
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David Paterson was sworn in as governor of New York today. This is a historic moment: Paterson is New York's first African-American governor, and the country's second legally blind governor. (The other one, Gov. Bob C. Riley from Arkansas, lasted only 11 days.) How will the governor run one of the nation's largest states with a visual disability? What obstacles does he and other blind professionals face on a daily basis? And what new technologies help the visually impaired succeed in today's high-paced environment? Patt looks at these issues and more.
- John Pare, Executive Director for Strategic Initiatives with the National Federation of the Blind.
- Rabbi Dennis Shulman, he is blind and making a congressional bid (for NJ's 5th District, includes Bergen and Passaic Counties)
A Chat with Congressman Howard Berman
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Until his death last year, Representative Tom Lantos was chairman of the House Committee on Foreign Affairs. Now that position goes to Howard Berman. A self-described liberal, he also champions the fight against "runaway production". On the non-progressive side, he voted to authorize military force in Iraq in both 1991 and 2003, a position that has hurt his standing among many liberals in his district. What will his leadership and record mean for the all-important Foreign Affairs Committee? Patt tries to find out.
- Howard Berman, Congressman (D-28, Van Nuys, San Fernando)
The Badda Boom Badda Bing Tour -- Vegas and the Mob Days
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Anyone who's seen "Bugsy" or "Casino" knows a little bit about the mob history behind the construction and creation of today's Las Vegas. Now the city is starting to acknowledge its sordid past, with tours of historic sites where mob players were whacked. Patt talks with mob historians about America's playground.
Tuesday, March 18
Defense of Obama's Preacher Takes Life of its Own
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Senator Barack Obama is fond of saying "words matter." He may have proved his point with a speech given today in Philadelphia. Obama's firey pastor, Jeremiah Wright, started to become a liability to the candidate, thanks to sermons that were highly critical of American policy. Obama's speech, "A More Perfect Union," was to address his relationship to Wright- but the speech itself, in which Obama spoke candidly and directly about slavery, his race, and its significance in his campaign, quickly became more of a focus than the controversial preacher it was intended to address. Patt talks with KPCC's listeners about Barack Obama's address and the race issues it brought up.
Mexican Americans, Assimilations, and Race
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Mexican Americans have not fully integrated into U.S. society, even by the third and fourth generation, according to a new UCLA study covering 40 years. Although many speak English fluently, prefer American music, and sometimes vote Republican, they continue to live in majority Hispanic neighborhoods and think of themselves as "Mexican" or "Mexican-American." Patt looks at the findings, both encouraging and troubling, and the reasons behind them.
Get Those Dirty Trucks Off the Road
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If the Board of Harbor Commissioners does what Mayor Villaraigosa wants, they will adopt all elements of the Clean Truck Program for the Port of Los Angeles. The plan requires the now-independent truck drivers to become employees of motor carriers, and the carriers would be responsible to put cleaner trucks on the road. Motor carriers have resisted this move, which would open the door for drivers to unionize. This labor-backed provision caused a rift between the Ports of L.A. and Long Beach earlier this year; the latter has adopted a model where independent drivers would lease or buy new, heavily subsidized trucks. The Commission heard the mayor's recommendations yesterday and will vote on the program later this week. Mayor Antonio Villaraigosa joins Patt to talk about the Clean Truck program and discuss why L.A. is breaking ranks with the Long Beach Harbor over it.
- Los Angles Mayor Antonio Villaraigosa
Time to Change Tactics of the Special Weapons & Tactics Team?
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Members of the LAPD SWAT team have a largely thankless job: they are called to the most grim and hopeless of crime scenes, put in dangerous situations and asked to confront the most hostile of criminals. Even with all of that in mind, a special panel of law enforcement experts convened by LAPD Chief Bratton says there is room for improvement in SWAT. Among other recommendations, the panel concluded in an undisclosed report that the rigorous testing to get into SWAT should be changed to make it more open to women, called for tighter supervision and criticized officers for relying too heavily on force over negotiations. Will the panel's suggestions be adopted?
San Bernardino Predatory Lending Bust
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This morning warrants were served by 33 members of the San Bernardino County District Attorney's Office, 12 members of the Los Angeles County District Attorney's Office, 4 members of the California State Department of Justice, Office of the Attorney General, and 12 members of the Los Angeles Police Department in part of a huge prosecutorial move against a predatory lending scheme. Patt talks to San Bernardino District Attorney Michael Ramos about the bust.
- Michael Ramos, District Attorney for San Bernardino
Millennial Votes
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In their book, "Millenial Makeover: MySpace, YouTube and the Future of American Politics," writers Morley Winograd and Michael Hais discuss the uniqueness of the 2008 election, thanks to the proliferation of Internet-based content delivery. They argue that online technology will lead to another radical transformation of American politics akin to the introduction of television. Patt talks with Winograd and Hais about their findings.
- Morley Winograd and Michael Hais- authors of "Millenial Makeover: Myspace, YouTube, and the Future of American Politics."
The authors will participate in Town Hall Los Angeles on April 2 at 12 noon. The discussion will take place from the National Center for the Preservation of Democracy, 111 North Central Avenue in little Tokyo.
Wednesday, March 19
Iraq War Could Cost Three Trillion Dollars - Or More
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While the meter continues to tick on Iraq war dollars spent, Joseph Stiglitz, Nobel Prize-winning economist, and Linda Bilmes of Harvard's Kennedy School of Government add up the cost of the conflict so far and predict it will reach $3 trillion or more. Their calculations include not just the basics of soldiers' wages and money to keep the military operational, but also the cost of caring for veterans, the effect of the war on our sinking economy, and global consequences of the war. Patt discusses the mounting costs with Ms. Bilmes and David M. Walker, who stepped down last week from his long-held position as Comptroller General of the U.S.
- Linda Bilmes, Professor in Public Policy at the Kennedy School of Government at Harvard and co-author, with Joseph Stiglitz, of "The Three Trillion Dollar War: The True Cost of the Iraq Conflict" (W.W. Norton)
- David M. Walker, until he stepped down last week, he has been the Comptroller General of the United States since 1998. He left the office to head up the Peter G. Peterson Foundation, a new think tank that will focus on fiscal responsibility and urge solutions to the nation's fiscal and demographic problems.
For a real-time cost-counter of the war for your community please see the National Priorities Project.
The GM Turnaround Meets the American Slowdown
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For a company that once practically ruled the United States, was the most profitable in the world and built unrivaled global name recognition, it's safe to say that it's been a very down decade for General Motors. Aside from the symbolic significance of being overtaken last year by Toyota as the top selling automotive brand in the world, GM has lost a staggering $50 billion in the last three years alone. After cutting its workforce and reducing its bloated pension obligations to its various unions, GM has worked hard at improving the quality of its cars and changing the perception of its fleet as aging and bland. Just when GM was starting to see some results the American economy has taken a major dive, killing sales figures for February of this year. Will General Motors, one of the quintessential American companies, eventually turn it around?
- Fritz Henderson, president and chief operating officer of General Motors
Economic Swivel: Run for Presidency Turns toward the Economy
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In light of the nation's huge economic concerns - the fed slicing interest rates, a crumbling housing market, and a looming fear of recession - the presidential candidates are quickly shifting their focus to prove themselves to be sturdy economic nominees. In the next few days Patt will be talking to the campaign's top economic advisors on the strategies their candidates plan on taking to pull the country out of this economic slump. Today Patt focuses on Obama's efforts on strengthening the US economy.
Why Can't You Get a Lower Mortgage Rate?
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Despite the Federal Reserve's latest cuts in short-term interest rates to banks, home mortgage rates show no sign of decline. Desperate home-owners have found themselves out of luck as skittish lenders, burned in the sub-prime debacle, refuse to offer credit, fearful of sending good money after bad. What will make banks shake loose and begin lending again?
Thursday, March 20
Relax, Take a Vacation... Unpaid , That Is
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There have been many proposed ideas coming from the City Council to pull LA out of its major deficit. Trash and water fees may raise, and the mayor is encouraging city workers to take a few unpaid days off to help out. Patt speaks to Councilman Dennis Zine on how to deal with LA's budget crisis.
High-Tech Sins
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The Vatican is getting hip with the times, suggesting a new list of "thou shalt not's" for the modern era. In their latest update of social sins, the Catholic Church has gone green and bioethical-- as they state we should not ruin the environment, experiment with DNA or acquire accessive amounts of wealth. Patt speaks to a Vatican Correspondent about these modern evils of our time.
- John Allen: Vatican Correspondent for the National Catholic Reporter and author of "The Rise of Benedict XVI: The Inside Story of How the Pope was Elected and Where He will Take The Catholic Church"
Sold! The Airwaves Go To AT&T and Verizon
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The nation's two biggest cell phone providers dominated the bidding to win the FCC airwaves auction. AT&T and Verizon Wireless pledged a combined $19.6 billion, with Google submitting a smaller bid, which put them out of the running to become a major wireless business community. Patt speaks to a Dow Jones reporter about this record breaking auction.
Iraqi Constitution and Government: Five Years Later
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If the United States is ever going to pull out of Iraq, it's essential that the government in Baghdad is truly in control of the country. The US has continued to put pressure on Nouri al-Maliki to beef up security forces and settle control issues with the Sunni minority. But rifts among the Shia, Sunni and Kurdish populations continue -- and reconciliation remains a huge challenge. Despite security improvements, issues over the rewrite of the constitution, the control of oil resources and how to deal with insurgents plagues the Iraqi government. Patt talks with experts on the region about the challenges and accomplishments of the Iraqi government.
"Bush's War"
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The attack on September 11, the invasion of Iraq, the truth about WMD, the rise of the insurgency, Abu Ghraib, the strategy of the surge... it's all there in Frontline's two-part special titled "Bush's War," which airs on PBS March 24 and 25. Since the conflict began, Frontline has gone behind the scenes to chronicle and analyze one of our most challenging periods of war and political drama. Michael Kirk, who wrote, produced and directed the documentary, joins Patt with the back story on the story without an end.
Friday, March 21
If Senators aren't Safe from Snoops, Are You?
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The revelations that private contractors snooped through the passport records of all three presidential candidates brings on a much bigger question: in the modern age, how can anyone maintain privacy? The Internet has changed things. Young people today simply expect information to be available. They embrace things such as Facebook and MySpace which help them network with people who have common interests. But what about health records, personal financial statements and, yes, travel history and passport records--things we'd probably all prefer are kept private? Guest-host David Lazarus checks into cyberspace privacy.
McCain's Plan for the Economy
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Economic news has dominated the headlines as the Democratic presidential candidates drub each other over experience, change, and race, and John McCain exercises a little international diplomacy. But what are the fiscal policies of the candidate who says economics isn't his strong point? McCain's senior policy advisor, Douglas Holtz-Eakin, explains what the Republican nominee has in mind to remedy the fiscal mess, at a time when there are calls to re-regulate freewheeling financial institutions.
- Douglas Holtz-Eakin, Senior Policy Advisor to Senator John McCain for his presidential campaign
"Operation Chaos" Republicans Vote Democrat
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Conservative radio hosts Laura Ingraham and Rush Limbaugh are making their attempt at swinging the Democratic vote. The talk show stars are urging remaining primary Republican voters to swap party lines and vote for Clinton in hopes of halting an Obama nomination. According to some analysts, Clinton won the Texas and Ohio primaries with the help of Republicans crossing over and voting for her. In the last five months Pennsylvania has seen a significant increase in the number of registered Democrats--but how much of this is to do with these troublemaking Republicans?
New UC President
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Mark Yudof, the former University of Minnesota president, will take over the University of California system. Guest-host David Lazarus gets the scoop on the new head.
Building a Better Latte: Reinventing Starbucks, Sort Of
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It hasn't been a banner year for Starbucks, the perpetually growing coffee company. It has lost nearly 40% of its stock value in the past year; it plans to cut back on the number of new stores it will open this year and even close about 100 underperforming U.S. stores this year; and at least 600 jobs will be cut. As part of a response to a down year, and girding for a downturn in the economy that is sure to affect Starbucks customers' ability to afford $4 coffee, the company announced a series of changes at this weeks shareholders meeting. Among other things new types of coffee and espresso machines will be introduced, all in an effort to regain the appealing authenticity that seems to have escaped from Starbucks stores recently. How will Starbucks balance the need for speed and efficiency with the demand for friendlier, more accessible service?
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