PUT NOT THY FAITH IN JUDGES: In an awful 7-2 decision today, the Supreme Court failed to uphold one of the most important constraints on executive power and okayed the bizarre funding mechanism of the CFPB (it gets its money on request from the Federal Reserve.) As I said in response, “Sadly, the Court has given the green light to Congress to abrogate its own power of the purse. We can expect future Congresses to come up with ever more inventive ways to allow the executive branch to fund its whims. The only hope for responsible government is for Congress to rediscover its own prerogatives and repeal unusual funding mechanisms for executive agencies that exercise more power over American citizens than the Post Office – starting with the CFPB.” Justices Alito and Gorsuch got the point exactly right in their dissent – there’s a reason England had a Civil War over this question.