Although the Federal Reserve cites gains in Americans' net worth in the most recent quarter, the increases are disproportionately flowing to the richest one-tenth of the population.
The Consumer Financial Protection Bureau has quickly been subsumed into the Trump administration, and banks, student-loan agencies and payday lenders are the winners.
The Dow and the Standard & Poor's 500 market indexes have dropped 10 percent from their all-time highs, set Jan. 26. This puts them in what Wall Street calls a correction, their first in almost two years.
Nearly every regulatory institution tasked with monitoring the financial system is now run by someone who once profited from bending or breaking its rules.
The U.S. financial system remains unreformed, and no one in any position of power will do anything to fix it. The only question is when the bubble will burst.
Poor Lawrence Summers, he doesn't get to be chairman of the Federal Reserve, aka the czar of the world's economic order.
Over the screaming objections of members of his own party, President Obama seemed determined to appoint Wall Street groupie Lawrence Summers to head the most important bank in the country. On Sunday, Summers "reluctantly" withdrew his name from consideration for the post.