Arianna Huffington has, for about ten years now, been a tenacious advocate for the middle-class and against the financial shenangans of Wall Street. (She converted from being a Newt Gingrich ally in the late 90s.) This is why she has kept up a constant drumbeat about the need for fundamental financial reform on her website, The Huffington Post. In a recent story, she writes passionately about this topic:
The SEC's action is a perfect moment for us to look at the bigger picture of how the American people were sold on the promise of never-ending prosperity while Wall Street was overseeing a massive transfer of wealth from the middle class to the richest Americans.
The results have been devastating: a disappearing middle class, a precipitous drop in economic and social mobility, and ultimately, the undermining of the foundation of our democracy.
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