"Just one day after Treasury Secretary Jack Lew wrote a letter urging lawmakers to reject a slate of Wall Street deregulation measures, nearly two dozen Democrats joined Republicans to approve the package in the House Financial Services Committee.

The legislation would repeal several sections of the 2010 Dodd-Frank Wall Street reform law targeting derivatives, the complex financial transactions at the heart of the 2008 banking collapse. Similar measures have already cleared the House Agriculture Committee with broad bipartisan backing.

The most controversial bill advanced on Tuesday would expand government backing for derivatives by allowing banks to sell them from their taxpayer-insured divisions. Dodd-Frank requires banks to "push out" many of these operations into units that do not receive deposit insurance from the Federal Deposit Insurance Corporation (FDIC)...".* The Young Turks host Cenk Uygur breaks it down.

*Read more here from Zach Carter / The Huffington Post:
http://www.huffingtonpost.com/2013/05/07/wall-street-bills-deregulation_n_3232693.html?utm_hp_ref=business&ir=Business