Elizabeth Warren’s creation of the fiercely anti-business CFPB is funded out of Federal Reserve earnings. But as we’ve previously noted in the HOTLINE, the Fed has been running big losses.  So – sorry – it has no earnings to pass out to the government lynching mob.

As of yesterday, the CFPB officially agrees. So time to turn out the lights.

The irony here is that Progressives designed the CFPB funding mechanism to avoid the accountability that comes with being funded by Congress via appropriations. But now that alternative funding mechanism may lead to the troublesome agency being mothballed.

Hoisted in their own petard.