President Obama Speaks at Countering Violent Extremism Summit (excerpt)
President Barack Obama spoke at the terrorism and extremism summit in Washington. The president said he rejects the notion that ISIL and Al Qaeda represent I...
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I.A.C.C BOSS ASOKE.K.LAHA ON OBAMA IMPACT
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I.A.C.C BOSS ASOKE.K.LAHA ON OBAMA IMPACT - Video
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Former New York Gov. David Paterson on Saturday said Rudy Giuliani embarrassed himself with a simplistic and almost childish attack on President Barack Obama and laughed at his insistence that he couldnt be racist because Obama had a white mother and was raised by white grandparents.
The president is still black, Paterson said in an interview with POLITICO, taking time out from the winter meeting of the Democratic National Convention, which he was attending as the New York State Democratic Party chairman.
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Paterson, whos African-American, said Giulianis defense of his comments earlier this week that Obama doesnt love America doesnt make sense.
Gee, you look at a lot of African-Americans, you can tell, that some place there was some white lineage and guess what, they got discriminated against just like everybody else, Paterson said.
Paterson, who was a state senator from Manhattan during Giulianis years as mayor of New York City and has known him since, said he wasnt as concerned with an apology to Obama.
I think Giuliani should apologize to himself because hes embarrassing himself on the national stage, and he knows better. Theres no excuse for that type of thing, he said.
Paterson said Giulianis recent spate of comments attacking Obamas commitment to America seems like a plea for attention from a man who ran for the White House in 2008, toyed with a second run in 2012, and has seen the 2016 race take shape without him.
There are those who see a lot of people running for president, theyre not on that list and maybe theyre just craving for a little attention, and maybe theyll just say anything to try to get the rest of us to talk about them, Paterson said.
If thats the case, Paterson said, it would make what Giuliani said worse.
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Paterson on Giuliani's racism defense: 'The president is ...
Washington PresidentBarackObamawill direct theDepartment of Laboron Monday to proceed with new rules that would rein in conflicts of interests among Wall Street brokers who advise clients onretirementinvestments, administration officials said.
The change would mandate that brokers follow a "fiduciary standard" to prioritize clients' interests over brokers' interests, they said. The proposal is opposed by many Republicans and financial firms, which are fearful that the plan will limit broker compensation.
The move would cut back on "hidden fees" that financial advisers can pocket when steering clients into more expensive products that may not be the best option for the investor, officials said. Such practices cost working- and middle-class families $17 billion a year, according to theWhite House.
"The president will call on theDepartment of Laborto establish updated rules of the road to make sure that responsible Americans who are saving forretirementare getting a fair share of returns on their savings,"Jeff Zients,Obama's top economic adviser, said in a conference call with reporters on Sunday.
The push for tighter rules fits intoObama's message of championing the middle class, a theme that is likely to dominate the 2016 presidential campaign.Obamawill unveil his proposal during remarks hosted by the Association of American Retired Persons (AARP), which, along with labor and consumer advocacy groups, has lobbied for the rule change.
Seniors are an important voting bloc for both parties.
Massachusetts SenatorElizabeth Warren, a consumer advocate who some Democrats hope will challenge former Secretary of StateHillary Clintonfor the party's presidential nomination, is expected to attend.
The industry fears a rule change would curb compensation for brokers and would limit the types of investment products investors can get. Fierce lobbying by the industry forced theLabor Departmentto scrap its original proposal a few years ago.
"This re-proposal could make it harder to save forretirementby cutting access to affordable advice and limiting options for savers," said Ken Bentsen, president of the Securities Industry and Financial Markets Association, which represents banks and assets managers.
Daniel Gallagher, a Republican member of the Securities and Exchange Commission, chided theWhite Houselast week for circulating baseless "propaganda" to rally support for the change.
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Obama rolls out new rules to protect retirement investors