Billionaire Bank: U.S. Approves More Trump-Tied Wall Street 'Innovation'
The Financial Times (10/15/25) hails the U.S. approval of Erebor, a new bank targeting the 'innovation economy' and conveniently founded by figures with close ties to Donald Trump. One might wonder if this 'innovation' mirrors the supply-side economics championed by Trump's previous administration, which historically led to massive tax cuts for the wealthy and deregulation that often benefits
those at the top. The pattern here isn't new; it's a revolving door, ensuring that political influence translates directly into financial advantage, regardless of who occupies the White House. This isn't just about a new bank; it's about the persistent, cozy relationship between political power and concentrated wealth. While the 'innovation economy' is touted, the real innovation seems to be in
how seamlessly these financial elites transition from political kingmakers to beneficiaries of government approval. One could argue this 'new' bank is merely old wine in an updated bottle, recycled from the same playbook that saw deregulation and unchecked corporate power celebrated during the last Republican administration. The question isn't innovation; it's insulation. How many times will we
applaud the same architects of economic inequality for 'innovating' their way to more influence and profit?