Money Matters - Simplified

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Republicans pushing through measures to curb rights of unions in Wisconsin

In a 18 to 1 vote, Republicans in the Wisconsin state senate have passed the measures curbing the rights of the public sector unions.

House passes financial reform bill

Washington -- A bill increasing regulation of the U.S. financial industry passed the House in a partisan 237-192 vote Wednesday evening.

The Senate, where Democratic leaders have been scrambling to get enough Republican support to bring the bill to the floor, has not voted yet, The Washington Post reported. The bill is not expected to be signed at least until the middle of July.

The 2,300-page bill creates a consumer protection bureau in the Federal Reserve and orders government regulation of the derivatives market.

Republicans were almost universally opposed.

"In total, this bill is a massive intrusion of the federal government into the lives of every American," Rep. Spencer Bachus, R-Ala., said.