Narrow Peak, Double Dip

Why is only a very narrow sector of the economy ( the financial sector ) turning huge profits currently amid a sea of otherwise mediocre to awful economic data?

Because the rescue only rejuvenated a very narrow sector of the economy. If the rest of the economy really was glued to Wall Street's backside like a saddle on a horse, then we would see evidence of an immediate collateral lift to the rest of the economy as Wall St. lifted off again. But no. They have headed for higher altitudes again, and we have stayed pinned to the mud at ground level.

Wall Street does not pull the economy up when it is gifted with welfare, and it would not drag us into a pit of ruins if it was denied welfare.

We should have cut that tape worm loose and rebuilt a real constitutional monetary system on their cadavers. By saving them, all we did was put ourselves right back in the crosshairs for their next pump and dump con game.