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...on Friday, the U.S. Senate did something that it rarely does these days. An amendment was offered as an attachment to the Senate budget bill and it not only gained the support of both Republicans and Democrats, it received unanimous support. By a vote of 99-0, the U.S. Senate voted to strip “too big to fail” banks of the taxpayer subsidies they’ve been getting for far too long.

According to The Hill, the amendment was introduced by Louisiana Republican David Vitter and Ohio Democrat Sherrod Brown. The bipartisan proposal “ends Too Big To Fail subsidies or funding advantages for Wall Street mega-banks with more than $500 billion in assets.”

The unanimous vote marks the first time the U.S. Senate has made a move against “too big to fail” since passage of the Dodd-Frank law. The amendment should be seen as a victory for Occupy Wall Street, which protested the big banks and “too big to fail” for over a year. It’s also a win for Democratic Senator Elizabeth Warren, who has been crusading against the big banks on behalf of taxpayers since long before being elected to office last year.

The only problem, of course, is now that the Senate has passed their version of the budget, complete with an end to government handouts to Wall Street banks, it falls to the House to approve the bill and send it to the President. In short, we have to depend on House Republicans to get the job done and, considering the conservative obsession with forcing the Ryan Budget upon America, passage of the Senate bill looks grim. The Senate finally gets their act together and unites to do something right for a change, and now conservative extremists in the House could ruin it for everyone. More at http://www.addictinginfo.org/2013/03/25/us-senate-unanimously-votes-to
-end-unfair-subsidies-for-too-big-to-fail-banks/

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