This episode's headline: Politics and Law; SBC - Reconnedted - Pacific Bell; AETNA - Medical Merger - U.S. HealthCare; Newsmaker. ANCHOR: JIM LEHRER; GUESTS: LLOYD CUTLER, Former White House Counsel; SEN. ORRIN HATCH, Chairman, Senate Judiciary Committee; HOWARD ANDERSON, The Yankee Group; BRADLEY STILLMAN, Consumer Federation of America; J.D. KLEINKE, Health Economist; SARA NICHOLS, Physician Advocate; CARL BILDT, European Union Representative, Bosnia; CORRESPONDENTS: KWAME HOLMAN; PAUL SOLMAN; CHARLAYNE HUNTER-GAULT; MARGARET WARNER