Bailout And The Ballot; Proposition 7 - The Renewable Energy Generation Initiative; The Bailout And Foreign Banks; Killer Stress; State Budget Stalemate Ends
Bailout And The Ballot
Even while they argue about the details, both parties seem to accept that some kind of Wall Street bailout is needed to save the economy from a freefall. But what does it mean to the two party candidates: Barack Obama and John McCain? What's the real story? Larry finds out. Guests include Ron Elving, Senior Washington Editor, National Public Radio, Assemblyman Ted Lieu, who is a surrogate for the Obama campaign, and Ron Nehring, Chairman, California Republican Party who represents the McCain campaign.
Proposition 7 - The Renewable Energy Generation Initiative
Proposition 7 requires that all electric utilities (including municipally-owned utilities) in California provide half of their electricity from solar and clean energy facilities by 2025. In order to meet that goal, the production of solar, wind and other renewable energy sources will have to more than quadruple their output and California utilities will have to increase their purchase of energy generated from renewable sources 2% annually. Proponents of Proposition 7 claim that it would make the state the world leader in clean energy. Opponents cite the $3.4 million annual bill charged to the state if Prop. 7 were to pass and argue that the initiative is badly written and creates more problems than it solves. Guests include Ralph Cavanagh, Director of the Natural Resources Defense Council, and S. David Freeman, President of the Los Angeles Board of Harbor Commissioners at the Port of Los Angeles.
The Bailout And Foreign Banks
As if the $700 billion bailout plan isn't complex enough in dealing with American banks, it also has to deal with foreign banks. Why? Because the international financial system is so international, that many foreign banks have subsidiaries in the U.S. and, even if they don't, banks from Brussels to Bangkok own securities backed by bad U.S. mortgages. If enough large foreign banks fall on bad U.S. paper, it'll pull down the world economy as surely as the failure of a large U.S. bank. How will the Fed deal with these international issues? And what do foreigners make of the U.S. economic crisis? Guests include Peter Hahn of the Cass Business School in London, and Andrew Hilton, Director of the Center for the Study of Financial Innovation in London.
Killer Stress
Larry Mantle talks with Stanford University neurobiologist and McArthur "Genius Grant" recipient, Robert Sapolsky about the National Geographic Special, "Killer Stress," co-produced by National Geographic Television and Stanford University. The special delves into how measurable and dangerous prolonged exposure to stress can be. "Killer Stress" airs on PBS stations Wednesday, September 24th at 8 p.m.
State Budget Stalemate Ends
Governor Schwarzenegger is expected to sign the state's $143 billion Tuesday, but he and other lawmakers say there's not much to celebrate. The compromise plan eliminates the temporary 10-percent payroll tax increase proposed by Democrats, but it makes ample cuts to health care and education to close the state's budget deficit. Critics say it does little to solve the state's long-term budget problems. Larry Mantle talks with H.D. Palmer of the State finance department about the final version.