What happened the last time a regulator took a chainsaw–like Musk–to regulation

You know how Musk uses a chainsaw? Well, another regulator who used a chainsaw was James Gilleran of the Office of Thrift Supervision, in 2003. And if you don’t know about the Office of Thrift Supervision, that might be because it doesn’t exist anymore. See this NPR story, which includes a picture of Gilleran and the chainsaw. Congress created the CFPB and eliminated the Office of Thrift Supervision because the chainsaw-wielding head of the OTS failed to prevent bad lending and the Great Recession. Maybe we shouldn’t let people using chainsaws run the country.  Thanks to Prentiss Cox for calling this to my attention.