Trump’s Fateful Mistake on Consumer Financial Protection
By seizing control of the Consumer Financial Protection Bureau and placing an ideological extremist in charge, US President Donald Trump has brought to the fore the deepest flaws in his administration’s founding myth. The gutting that now awaits the agency will visibly harm many of the ordinary people Trump promised to defend.
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WASHINGTON, DC – The founding myth of US President Donald Trump’s administration is that it will look out for ordinary Americans, and that cutting taxes on companies, deregulating finance, and rolling back environmental protections will achieve that. None of this makes any sense, and the administration’s claims that these measures will spur an economic boom – with annual growth accelerating from 2% to 3% – are pure fantasy.