Are Big Banks (XLF) In Trouble?

Lawmakers approved an amendment today that would stop government bailouts of financial institutions. Lawmakers are seeking to end the "too big to fail" policy that weakened the US economy in 2008. According to Reuters, "The Senate voted 93-5 for a plan that would set up a new government protocol for seizing and dismantling large financial firms that are in distress." This leads to the question, will the big banks be broken up soon? This looks like the 1st step to reducing the size of the nation's largest banks. Investors in Bank of America (BAC), Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC) need to keep a close eye on what is happening in the Senate. Shares of the big banks could be under pressure if they are forced to sell off financial units to reduce their size. If the big banks end up being forced to sell off assets then their future earnings power will likely be reduced.