General Discussion
In reply to the discussion: 37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families [View all]davidn3600
(6,342 posts)But it didnt help the middle class much at all. The middle class saw their home values crash and their 401ks vanish.
The rich have actually benefited under Obama. Their wealth has grown about 15%. But the middle class saw their own net worth plummet 35%. The banks responsible for the crash are still in business. Their executives are still living in luxury. And now we got companies and entire sectors of our economy that are deemed "too big to fail." Does that not amount to a legalized or even a government-encouraged monopoly? Bank of America will not be allowed to fall no matter how bad they get or what laws they break. But your credit union down the street is out of luck. They have to close their doors when they are in trouble.
That's why the President is barely making re-election.