(CNN) - Homeland Security Secretary Janet Napolitano is taking aim at the new controversial law passed in her home state of Arizona dealing with illegal immigration, telling ABC News it is "not a good law in any number of reasons."
"That one is a misguided law. It's not a good law, good enforcement law," said Napolitano, who served as governor of Arizona before being joining President Obama's administration last year. "But beyond that, what it illustrates is that other states now will feel compelled to do things."
Arizona Gov. Jan Brewer signed a bill Friday that requires police in her state to determine whether a person is in the U.S. legally – a measure critics say will foster racial profiling. But supporters argue the law will help crack down on illegal immigration. The law requires immigrants to carry their alien registration documents at all times and requires police to question people if there is reason to suspect that they're in the country illegally. It also targets those who hire illegal immigrant day laborers or knowingly transport them.
In her interview with ABC broadcast Monday, Napolitano said the law is evidence a comprehensive federal immigration plan is needed.
(CNN) - The founder of the socially conservative Focus on the Family organization is weighing in on the divisive Republican Senate primary battle in Kentucky.
James Dobson Monday endorsed Kentucky Secretary of State Trey Grayson, who's fighting Rand Paul for their party's nomination.
"Trey Grayson is the only candidate with the conviction to lead on the issues that matter to Kentucky families," Dobson says in a statement released by the Grayson campaign. "His unwavering commitment to the sanctity of human life and the family resonates with me. I know that he will be a leader on these issues, not just another Senator who checks the box."
The release notes that Dobson, who no longer heads Focus on the Family, is making the endorsement as a private individual.
Washington (CNNMoney.com) - Senate Democrats want to bring a Wall Street reform bill to the floor as soon as Monday.
But, as of now, Republicans say they oppose debate until a bipartisan compromise is reached. And, unless one Republican joins the 59 Senate Democrats in voting to begin debate, it won't happen.
Washington (CNN) - A free speech dispute over a California law banning sale of violent video games to children will go to the Supreme Court for review.
The justices Monday accepted the state's appeal and will decide whether the law is too restrictive in denying access by minors to often-graphic material. Video-game makers say the ban goes too far. They say the existing nationwide, industry-imposed, voluntary ratings system is an adequate screen for parents to judge the appropriateness of computer games.
The state says it has a legal obligation to protect children when the industry has failed to do so.
At issue is how far constitutional protections of free speech and expression, as well as due process, can be applied to youngsters. Critics of the law say the government would in effect be engaged in the censorship business, using "community standards" to evaluate artistic and commercial content.
New York (CNNMoney.com) - To motivate the well-off to funnel more of their cash into small businesses, should the federal government offer investors new tax breaks?
President Obama thinks so. He's thrown his support behind a proposal to eliminate capital gains taxes on investments made in 2010 and 2011 in qualifying small businesses. The House of Representatives has already passed the legislation; the Senate has yet to take it up.
"We should eliminate all capital gains taxes on small business investment so these folks can get the capital they need to grow and create jobs," Obama said at a February town hall meeting in Nashua, N.H. "That's particularly critical right now, because bank lending standards have tightened since the financial crisis and many small businesses are still struggling to get loans."
It's a message he's repeated often in recent months, and one that resonates with entrepreneurs: Nearly 60% of the 500 small business owners polled in February by PNC Financial Services Group think their business would benefit from the move.
Here's a look at what the tax break would do - and who would benefit:
Washington (CNNMoney.com) - Two key Democratic senators have hammered out a deal that would impose new rules on the complicated financial bets that fueled the mess of the past three years, a congressional aide said Monday.
Details on the deal between Agriculture panel chairwoman Sen. Blanche Lincoln, D-Ark., and Banking panel chief Sen. Christopher Dodd, D-Conn., were scarse. But one aide told CNN that the deal maintained a provision that Lincon's committee passed last week that would force banks to spin off their swaps desk, or the parts that deal in making such risky bets.
Last week, one Republican - Sen. Chuck Grassley, R-Iowa - joined Democrats in passing the bill, which could signal broader GOP support for the general regulatory overhaul effort in coming weeks.
A new ABC News/Washington Post poll released Monday morning indicates 65 percent of the public supports stricter federal regulations on the way banks and other financial institutions conduct their business, with 31 percent opposed. (PHOTO CREDIT: Getty Images)
Washington (CNN) - Hours before a showdown in the Senate over the Democrats financial reform legislation, a new national poll indicates that nearly two-thirds of Americans support stricter regulations of banks and Wall Street firms.
According to a ABC News/Washington Post survey released Monday morning, 65 percent of the public supports stricter federal regulations on the way banks and other financial institutions conduct their business, with 31 percent opposed. A majority of people questioned in a CNN/Opinion Research Corporation poll conducted last month also favored greater government regulation of banks and other financial institutions.
Taking a look at some of the provisions in the legislation, the ABC News/Washington Post survey indicates that nearly six in ten back increasing federal oversight of the way banks and other financial companies issue credit cards and make consumer loans, such as mortgages and auto loans. And 53 percent support requiring large banks and other financial companies to put money into a fund that would cover the cost of taking over and breaking up any large financial company that fails and threatens the broader economy; 42 percent are opposed.
(CNN) - Delivering on a promise he made nearly a year ago, President Barack Obama will host a two-day entrepreneurship summit beginning Monday, designed to improve relations with the Muslim world.
"It represents an opportunity to highlight and support business and social entrepreneurship in Muslim-majority countries, including their minority populations, and Muslim communities around the world," a statement from the summit's website said. "Through this Summit, the United States seeks both to join existing efforts and inspire new efforts to promote entrepreneurship and innovation."
The summit will include remarks by the president, Secretary of Commerce Gary Locke and closing comments by Secretary of State Hillary Clinton.
Participants from over 40 countries on five continents have been invited to participate, according to the White House. "The Summit will highlight the role entrepreneurship can play in addressing common challenges while building partnerships that will lead to greater opportunity abroad and at home," it said.
(CNN) - The battle for President Barack Obama's old Senate seat is heating up.
Illinois Treasurer Alexi Giannoulias, the Democratic nominee in the race, is up Monday with his first television commercial in the general election. The ad comes out as Giannoulias deals with the collapse last week of his family's bank.
In the 60 second commercial, which his campaign says will run statewide in Illinois, Giannoulias says his family's bank helped thousands of people over the years.
"I was very proud to be a part of it, and when I left, over four years ago, it was in good shape. But no one could have foreseen these problems," says Giannoulias in the ad.
Later in the commercial, the narrator criticizes the Republican nominee in the race, Rep. Mark Kirk.
"Mark Kirk doesn't get it. First he votes for the Bush policies that got us into this mess, including tax breaks that shipped jobs to China. Then Kirk has the nerve to vote against extending unemployment benefits, saying unemployment isn't a big issue," says the narrator.
Washington (CNN) - In a private meeting with Hispanic Republican activists last week, Republican National Committee chairman Michael Steele called for a comprehensive immigration policy that puts families first – a stance at odds with some conservatives in his party who see border security and enforcement as top priorities.
Steele also said Republican leaders are sensitive to “the perception of racism in law” following the signing of a tough new immigration bill in Arizona.
The RNC chairman made the comments in Washington on Friday, shortly after Arizona Gov. Jan Brewer enacted the controversial law, which requires police to question people suspected of being in the country illegally. Critics of the law argue that it will lead to racial profiling and civil rights violations.