The shadow banking industry is off the races in 2017. KKR is now in the top-13 of lenders of leveraged loans, having lent more already in 2017 than in all of 2016. The Federal Reserve's leverage limit on banks has opened the door and KKR is barging through with brute force. Still, President Trump is considering loosening the standards on banks which would have the affect of increasing their ability to compete for issuance of the riskier leveraged loans. That would hurt KKR's growing share.