Senators Give Unanimous Support to Ending Too-Big-to-Fail Banks
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Critics of banks deemed “too-big-to-fail” gained political support in the waning hours before the U.S. Congress adjourned over the weekend when senators voted unanimously in favor of ending perks enjoyed by the largest banks.
Senators voted 99-0 in support of a non-binding measure calling for an end to implicit subsidies the credit markets give banks over $500 billion because of the perception that the federal government would bail them out.