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In today's pages: California lawmakers, Detroit automakers, Madoff investors and the homeless

December 17, 2008 |  1:10 am

California legislature, budget, Mike Villines, Karen Bass, Big Three, automakers, bailout, Green Chemistry, Screen Actors Guild, SAG, Melissa Gilbert, Bernard Madoff, Ponzi scheme, deregulation, homeslessness, Santa When is a budget not a budget? When it's the California Republicans' specious proposal for cutting $22 billion in state spending. The Times editorial board today explains the difference between the GOP's offer and a real attempt to negotiate:

The problem with the $22-billion GOP plan as a starting point is that it doesn't bring the state the cash it needs today. Instead, it's in some sense a shopping list of things the party's lawmakers wish hadn't happened over the last 10 years.

The board urges Washington to give General Motors and Chrysler some short-term help, then come up with a better reason not to let the companies go into Chapter 11. It also calls on California to implement the recommendations in the state EPA's "Green Chemistry" report.

On the Op-Ed side of the ledger, former Screen Actors Guild President Melissa Gilbert exhorts fellow thespians to vote against authorizing a strike. A work stoppage in the midst of a recession is not just a "foolhardy" idea, Gilbert writes, but also a move SAG simply can't afford:

The cost of the current negotiations, which have dragged on since the spring, must be approaching $1 million. The guild reports that it has about $48 million in reserves, but nearly every penny is already allocated for operating costs. Where are the millions more needed to fund a strike, including the staff overtime and travel expenses that are inevitable?

Columnist Tim Rutten looks peers into the staggeringly large Ponzi scheme allegedly perpetrated by Bernie Madoff, a regulated securities broker-dealer, and sees -- gasp! -- the bitter fruits of deregulation. Hmm. I thought Madoff was accused of perpetrating much of the fraud during the years Eliot Spitzer -- Wall Street's self-appointed regulator-in-chief -- was New York's crusading attorney general. Perhaps Spitzer needed more rules in the securities rulebook. Or maybe he was just distracted?

Rounding out the day's brother-can-you-spare-a-dime theme, physician Jan Gurley, who treats homeless patients in San Francisco, calls on the better off among us to spread some holiday cheer to those living on the streets:

When you personally give a gift to a homeless person, you aren't playing Santa -- you are Santa. I'm a doctor who treats the homeless, and I can promise you, no one else is likely to drop off a present out of the blue to the huddle of human misery you pass by every day.

At a loss for what to give a stranger who has nothing and needs everything? Check out Gurley's suggestions here.

AP Photo/Rich Pedroncelli


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Comments
1.

Heh heh heh. Tim has much more intellectual clarity than I do, Mitchell, but thanks for the compliment. As for me, let's just say writing editorials about the economy tends to make one skeptical about the efficacy of government actors. :-)

2.

Hmm. I thought Madoff was accused of perpetrating much of the fraud during the years Eliot Spitzer -- Wall Street's self-appointed regulator-in-chief -- was New York's crusading attorney general. Perhaps Spitzer needed more rules in the securities rulebook. Or maybe he was just distracted?

Channelling the dearly departed Tim Cavanaugh are we, Mr. Healey? Or maybe engaging in some outreach in case ... well, let's just keep our fingers crossed.



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