Under the Emperor, Haussmann had greater power than any of his predecessors. In February 1851, the French Senate had simplified the laws on expropriation, giving him the authority to expropriate all the land on either side of a new street; and he did not have to report to the Parliament, only to the Emperor. The French parliament, controlled by Napoléon III, provided fifty million francs, but this was not nearly enough. Napoléon III appealed to the Péreire brothers, Émile and Isaac, two bankers who had created a new investment bank, Crédit Mobilier. The Péreire brothers organised a new company which raised 24 million francs to finance the construction of the street, in exchange for the rights to develop real estate along the route. This became a model for the building of all of Haussmann's future boulevards.