The wheels of justice turn slow, but they may finally be running over Sen. Elizabeth Warren. The Fifth Circuit Court of Appeals just ruled (as many of us have been saying for over a decade) that the funding mechanism of her brainchild, the Consumer Financial Protection Bureau (CFPB), is unconstitutional.
The Court found that the CFPB gets its funding from the Federal Reserve, which is outside of Congress’ appropriations process. This violates separation of powers because Congress abdicated its power over funding of agencies to the unelected bureaucrats in the agency itself, creating an “unprecedented” “perpetual, self-directed, double-insulated funding structure” that “goes a significant step further than that enjoyed by other agencies…”
Naturally, Warren railed that this is a “lawless and reckless decision,” citing all the good the agency has done for consumers. But while she may find the Constitution to be an intolerable inconvenience to her plans, it’s a correct decision. What’s lawless and reckless is giving unelected bureaucrats not only power but also funding that the people’s representatives have no control over. As for the CFPB's alleged good works, that's irrelevant. If it's such a good thing, then let it be funded by Congress and justify its budget, like any other agency subject to oversight.
Liberals love the idea of benevolent dictators. They don’t seem to understand that once you’re a dictator, benevolence becomes optional.