It sure sounds like the University of California is in financial crisis, with layoffs, paycuts/furloughs, massive student fee increases and

campus protests. But economist Peter Donohue thinks otherwise.

Looking at the UC's own financial reports, he has discovered billions hidden away in its unrestricted reserves. The UC likes to say these funds are

already committed, but Donohue says these are not legally restricted. They could be freed up to offset the massive loss of state funding. But unlike

the CSU system, UC funding is only 13% -18% dependent on state sources.

Show host Daniel C. Tsang talks to Donohue about why the UC is pleading poverty.

On the show, we also aired a clip from the 24 September 2009 rally at UCI of popular Sociology lecturer Chuck O'Connell talking about neoliberealism.