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Catherine Rampell: Republicans’ deregulation is hurting consumers. A new bill from Democrats could help.

For markets to work, you need a system where either the government protects consumers or consumers can adequately defend themselves. Or both. But you can't have neither. The "neither" option lands you in a kleptocracy, which is basically where Republicans have been leading the country for the past few years.

Happily, a new bill — introduced by Democratic lawmakers last week — would restore at least some of consumers’ diminished tools for self-defense.

Republican politicians love to talk about their deregulatory successes. They're not exaggerating: Under President Trump's leadership, Republicans have repealed or watered down tons of federal rules.