In the aftermath of the 2008 financial crisis, a consensus quickly developed in Washington: no more bank bailouts.
Nobody — lawmakers, government officials, regulators and certainly not average Americans — was happy about the hundreds of billions of dollars of taxpayer money pumped into banks and other firms to prevent a financial meltdown.
Although the money eventually was repaid, with the federal government even earning a small profit, Democrats and Republicans united in the desire to prevent a repeat.
But nearly nine years since the crisis, there’s no agreement on how to accomplish that goal.
The vastly different approaches of the two parties are at the center...