Winners and Losers

Democrats in the Senate failed yesterday to pass a bill that would have provided financially troubled states a needed shot of cash while extending emergency unemployment benefits to millions of Americans who've lost their job during the recession. The measure failed with a 57 to 41 vote, with Republicans complaining that the measure would deepen budgetary problems.

The vote handed President Obama, who was counting on the money to uplift a limping economy, with a mark in the loss column. But he's not throwing in the towel. White House press secretary Robert Gibbs: "The President will continue to press Congress to pass this bill and bring this relief that's critical to our economic recovery."

But while Mr. Obama was left licking wounds on one front, he hit a milestone on another.  Early this morning negotiators in the Senate and the House shook hands over a sweeping bill that revamps the way the federal government oversees the financial industry.