It is the oligarchy, much as it was before, only now without any semblance of secrecy or shame.
The loss of democracy is an inevitable result of the ascension of unelected political power. Over the past 40 years in the US. we have witnessed the return of this cyclical phenomenon of our capitalist economic system--the gradual rise of corporate control of government--which has occurred every 70-80 years since the founding of the nation. Paralleling the increase of corporate power, and directly related to it, is the widening of the income/wealth inequality gap between the 1% and the balance of the population. Economists tracking that gap found that it peaked in 1928, the year before the Crash of 1929, the Great Depression. It peaked again in 2007, the year before the onset of the recession we have not fully recovered from. An amazing concordance. Of course, for people of wealth, those crises were special opportunities to become even richer. Failing business were bought by the vultures for fire sale prices; and homes in foreclosure were scooped up for pennies on the dollar.