“There’s a new sheriff in town,” drawls Attorney General Waylon Jeffcoat to an assemblage of United States attorneys now under his employ, “and you are my deputies. Gonna be one hell of a turkey shoot!”

Well, yes and no. After watching the Season 3 premiere of “Billions,” Showtime’s amusement-park ride of a financial drama, it is clear that the show’s creators and characters are indeed coming out guns blazing. But the new sheriff, known as Jock, hasn’t changed the series’s old winning ways. A boots-on-the-desk Texan played by the dulcet-toned character actor Clancy Brown, Jock Jeffcoat announces he’s pulling the Justice Department away from Wall Street’s white-collar crimes. Elsewhere, the revelation that the unctuous hedge-fund creep Todd Krakow (Danny Strong), previously the show’s comic-relief antagonist, has been named Treasury Secretary is perhaps the best gag of the episode, in that funny-because-it’s-true sort of way.

The premiere is the most direct reference to the advent of the Trump era we’ve seen so far, if not explicitly so. And yet “Billions” is still the story of the hedge-fund billionaire Bobby Axelrod (Damian Lewis) and Chuck Rhoades (Paul Giamatti), the crafty, crusading prosecutor out to take him down. The two remain uncomfortably connected by Wendy Rhoades (Maggie Siff), Axe’s on-staff therapist and performance coach who’s also Chuck’s wife and dominatrix. Each man is the other’s Ahab, with Wendy playing Ishmael to them all, complemented by one of the strongest supporting casts on television. Trump may have changed the playing field, but the players and the game remain the rollicking, entertaining same.

At the close of Season 2, Chuck busted Bobby on an I.P.O. sabotage scheme that he had more or less abetted himself, knowing that his nemesis would walk right into the trap. Now Chuck and Wendy — previously estranged, in large part, because of his obsession with her boss — have reconciled. On the other hand, Axe and his wife, Lara (Malin Akerman), have split over Axe’s dishonesty about continuing to work with Wendy. It didn’t help that he also put his family’s fortune and stability at risk by getting himself arrested.

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