NYC mayor, NY governor hail Obama election

New York City Mayor Michael Bloomberg says that President-elect Barack Obama's victory shows how far the country has come and Gov. David Paterson calls it "an extraordinary and historic moment."

Paterson, New York's first black governor, said the election of the nation's first black president is "a realization of the long-held dreams of generations of Americans" who have fought and continue to fight against the ugliness of inequality.