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30 Sep 2010 21:53


Politics: Economist Robert Reich: Rich getting richer, poor staying poor

  • There are big, big holes in that Wall Street financial reform act — holes big enough for Wall Street traders to drive their Ferraris through. …  I think we’re going to be left with a Wall Street that continues to grow more and more powerful and richer relative to the rest of the United States economy.
  • Economist (and Bill Clinton’s Secretary of Labor) Robert Reich • Regarding the economic recovery and financial reform, which he says has not succeeded in helping the middle-class, but has succeeded in allowing the financial industry to get richer. It’s created a disparity that, according to Reich, hasn’t existed since the Great Depression. “[The middle class] can’t go deeper and deeper into debt. They can’t work longer hours. They’ve exhausted all of their coping mechanisms,” he says. source