Washington - (NBC) - 55 Democrats and four Republicans say they are shutting the door on Wall Street gambling with your money.
"The days of too big to fail are over. The game for them is over," said Senate Majority Leader Harry Reid.
The Senate's bill would police risky financial deals, shine the light on complex trading, create a new government agency to protect consumers, demand proof you can pay your mortgage and shut down failing banks without using your money.
"There will be no more taxpayer-funded bailouts .. period," said President Obama.
What the bill doesn't do, critics say, is stop the bailouts of mortgage giants Freddie Mac and Fannie Mae which are now at 146 billion dollars and counting.
"There is no end in sight. Losses continue to mount, and taxpayer exposure is unlimited," said Alabama Senator Richard Shelby.
A few Democrats voted against it, saying the bill's not tough enough on complex financial deals.
"If we don't get them properly into the transparent market place where we need them, we're gonna have the situation happen again," said Washington Senator Maria Cantwell.
What passed last night now has to be merged with what the House passed in December.
One of the biggest differences: whether auto dealers who finance cars have to follow the new rules.