Former LA Mayor Richard Riordan on Schwarzenegger, Unions, and Bankrupt Cities

"Throughout the country, 90 percent of cities and states are going to go bankrupt within the next five years, many of them sooner." So says former Los Angeles Mayor Richard Riordan.

Reason.tv's Tim Cavanaugh sat down with Riordan to discuss state and local budget crises, public-sector unions, and why Riordan recently became a fan of current LA Mayor Antonio Villaraigosa.

Approximately 9.40 minutes.

Shot by Zach Weissmueller, Paul Detrick and Alex Manning. Edited by Paul Detrick.

Go to http://reason.tv for downloadable versions and subscribe to Reason.tv's YouTube channel to receive automatic notification when new material goes live.