Let’s say there was a federal agency charged solely with protecting consumers from financial abuse. And let’s say that agency was so good at its job, it succeeded in returning $12 billion to consumers who had been ripped off by greedy banks and lenders.
How would you reward that agency?
If you’re President Trump, the answer is to slash its funding by 23% and get rid of rules “that unduly burden the financial industry.”
The $4.4-trillion White House budget proposal unveiled last week drew heat for its generous allotments to the military at the expense of social programs, as well as its ridiculous pretense that $1.5 trillion in much-needed infrastructure spending would be...