The Election of 2016

Lore & Background

In the world of Billions, politics is a currency just as valuable as capital. The Election of 2016 introduces volatility into the legal framework protecting or prosecuting financial crimes. For Chuck Rhoades, whose identity is tied to his role as U.S. Attorney, the election results signal an existential threat. The show utilizes this event to explore how independent institutions are often subject to the whims of elected officials.

Bobby Axelrod, conversely, views the political shift through a lens of opportunity and risk management. His interactions with various political figures highlight the blurred lines between campaign finance, lobbying, and personal gain. The narrative suggests that while markets react to headlines, the true winners are those who anticipate regulatory changes before they happen.

This era also introduces new antagonists aligned with the incoming administration, complicating Chuck's investigations. It emphasizes a theme central to the series: power is fleeting unless anchored by influence, and the election cycle determines who holds that anchor.

In Their Own Story

The glow of the television screen reflects in the darkened windows of the U.S. Attorney's office. Chuck Rhoades stands motionless, watching the maps shift colors across the country, his coffee cold on the desk beside him. Downstairs, the phones are ringing with calls from lobbyists and donors alike. Across town, Bobby Axelrod watches the same feed from a penthouse overlooking the river, calculating how the market will breathe tomorrow morning. The election is over, but the war for control of the law has just begun.

Reader's Guide

The central conflict revolves around the stability of federal prosecution amidst a changing political regime. Chuck Rhoades faces uncertainty regarding his tenure as U.S. Attorney, knowing that a new administration may replace him with a loyalist rather than a career prosecutor.

Key turning points occur when rumors of cabinet reshuffles begin to circulate within the DOJ. These whispers force Chuck to accelerate certain investigations before losing authority or protection from higher-ups. Bobby Axelrod navigates this by leveraging connections, attempting to ensure his firm remains insulated from aggressive regulatory crackdowns that might follow a shift in leadership.

The resolution is not immediate but unfolds over several seasons. Ultimately, the election's fallout leads to Chuck being removed from his position, validating the fear that political capital can override professional merit. This forces him into new alliances and strategies, while Axelrod continues to thrive by adapting to the new regulatory environment.

Did You Know?

• The show's writers adjusted scripts in real-time during Season 1 to reflect actual election polling data.
• Chuck Rhoades' eventual removal from office was directly tied to the political changes resulting from this event.
• Many characters reference the election as a turning point for how Wall Street interacts with federal agencies.
• The show aired concurrently with the real-world events, allowing for immediate cultural commentary.