Is a witness's testimony from an earlier proceeding admissible under the prior testimony exception to the hearsay rule?

Although the testimony of a witness at an earlier proceeding is hearsay if offered to prove the truth of the matters to which the witness testified, it is admissible under the prior testimony exception to the hearsay rule if (1) the witness is unavailable, and (2) the party against whom the testimony is offered was a party to the earlier proceeding and either offered it in evidence at the earlier proceeding or "had the right and opportunity to cross-examine" the witness "with an interest and motive similar to that which [the party] has at the [current proceeding]." (Evid.Code, 1291, subd. (a)(2).) When these requirements are satisfied, admitting former testimony in evidence does not violate a defendant's right of confrontation under the federal Constitution. (California v. Green (1970) 399 U.S. 149, 165-166, 90 S.Ct. 1930, 1938-1939, 26 L.Ed.2d 489; see People v. Cudjo, supra, 6 Cal.4th 585, 618, 25 Cal.Rptr.2d 390, 863 P.2d 635.)