by JD Heyes, DC Clothesline:

After Democrats under then-President Barack Obama rammed through a massive new regulatory regime for the banking industry following the 2008 “Great Recession,” Americans were told that bank collapses were a thing of the past.

We needn’t worry anymore, Democrats said, because brand-new unaccountable agencies like the Consumer Finance Protection Board were going to make sure that depositors were safe, their assets protected, and the bad guys who run shoddy banks dealt with.