Patt Morrison Fri 9/19/08

PATT MORRISON SCHEDULE

Friday, September 19, 2008

1-3 p.m.

1:00 - 1:30

OPEN 

  

 

  

1:30 –  2:00 

Can’t Get a Bill Passed? Gut-and-Amend it!

When California lawmakers can’t get a bill through the Legislature through traditional means, sometimes they get creative. Using a process known by insiders as “gut and amend”, they’ll insert entirely new language (and strip out the old) in an unrelated bill in an attempt to get it passed in a hurry. So when a bill to improve the California whistle-blower law becomes a proposal to allow giant illuminated billboards in downtown L.A., you’re seeing gut-and-amend in action. Patt finds out more about this venerable legislative tradition.

 

Guests:

Nancy Vogel, Sacramento reporter for the Los Angeles Times

CALL HER:

 

Christina Lokke (LOCK-ee), Common Cause

CALL HER:  

  

State Senate Majority Leader Gloria Romero

BY TELEPHONE 

 

  

 2:00   –  2:30

The Shadow Economy, or: No Adult Supervision on Wall Street

Over the last two decades our country’s largest banks and hedge funds have designed a complex web of interconnected financial derivatives (futures, options, etc.) which are traded “over the counter” – transactions which are almost completely deregulated. As Professor Michael Greenberger explains in the “Futures, Options and Derivatives” seminar he teaches to his law students, this “shadow economy” comprises a multi-trillion dollar economic market, dwarfing Wall Street and based almost entirely on money that doesn’t exist.  He says this “shadow economy” is what led to the failure of major financial institutions like Bear Stearns, Fannie Mae and Freddie Mac, Lehman Brothers and AIG.  What are the national and global repercussions of this epidemic of economic failure?  And what can our leaders do to restore confidence on both Wall Street and Main Street?

 

Guests:

Michael Greenberger, Professor of Law, University of Maryland

Call him

 

 

2:30 –  3:00 

Christopher Buckley's "Supreme Courtship"

Capitol Hill is the backdrop for Christopher Buckley’s latest novel “Supreme Courtship.”  It’s a satiric tale with all the makings for a political daytime drama.  With a president who wants to lose the re-election and a reality show T.V. judge up for Supreme Court justice, this witty take on a fictional Washington makes light of America’s governmental institutions.  The best-selling author talks with Pat about this prescient jab at our political system.

 

Guest:

Christopher Buckley, political satirist and author of “Supreme Courtship.”  He has written13 books including “Boomsday,” “The White House Mess” and “Thank You for Smoking.”  His criticisms have also been published in the New York Times, Wall Street Journal and other publications.

IN STUDIO