Source: NYT > U.S.
Article note: "That’s why my farewell address tonight, I want to warn the country of some things that give me great concern. And this is a dangerous — and that’s the dangerous concentration of power in the hands of a very few ultrawealthy people, and the dangerous consequences if their abuse of power is left unchecked. Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead. We see the consequences all across America. And we’ve seen it before.
More than a century ago, the American people stood up to the robber barons back then and busted the trusts. They didn’t punish the wealthy. They just made the wealthy play by the rules everybody else had. Workers want rights to earn their fair share. You know, they were dealt into the deal, and it helped put us on the path to building the largest middle class, the most prosperous century any nation the world has ever seen. We’ve got to do that again."
... I suspect this, like Eisenhower's "military-industrial complex" farewell address warning, will be quoted for decades to come. Unfortunately probably also as a "we knew better and let it happen anyway."
The president delivered the 17-minute speech from the Oval Office in the White House.
