Donald Trump has seized control over previously “independent” federal regulators. That’s problematic—but Democrats should resist the urge to revert to the way things were.
Amid the recent flurry of radical executive orders, one in particular has flown under the radar: President Trump has seized control over regulators like the Federal Deposit Insurance Corporation and the Securities and Exchange Commission, ending a century-old tradition that kept these financial watchdogs “independent” from White House control.
As former financial regulators, we are deeply concerned...