After seven years of benefiting from the greatest transfer of wealth in history, the U.S. banking industry topped it off with record profits in 2015.
This bonanza stands in stark contrast to the plight of the middle class, whose wages have stagnated while health insurance costs reach crippling proportions.
Wealth inequality in the U.S. has greatly expanded - a trend that defines countries with Quantitative Easing (QE) programs.
It wasn't enough that the federal government borrowed trillions off the backs of citizens to bail out the very banks that caused the Great Recession.
The same cabal of rich and powerful - our modern version of royalty - then used that event to siphon even more wealth from the middle class under a new game called QE.
Jobs, wages, and the GDP took a back seat to the "too big to fail" Wall St. banks, because they couldn't trust the plebes with all that money for fear of inflation.
As a result, the various schemes these banks engaged in with the free money - including mortgage-backed securities, company mergers, company debt offerings, stock buybacks - did nothing but secure that wealth for the 1%.
The record profits of the banking industry in 2015 make it seem almost comical that Morgan Stanley will pay $3.2 billion to get out of trouble for its part in causing the recession.
In the U.S., banks can just give the government money - which it got thanks to Quantitative Easing - to avoid being treated as a criminal.
In Iceland, they actually jail bankers who helped cause the recession.
As the QE scheme has run its course, it appears that central banks may have lost control, but not before securing that immense transfer of wealth to the upper echelon...