Obama: ‘1 Percent of Humanity Controls as Much Wealth as the Other 99 Percent’

"In developing countries, labor organizations have often been suppressed, and the growth of the middle class has been held back by corruption and underinvestment. Mercantilist policies pursued by governments with export-driven models threaten to undermine the consensus that underpins global trade. And meanwhile, global capital is too often unaccountable -- nearly $8 trillion stashed away in tax havens, a shadow banking system that grows beyond the reach of effective oversight. A world in which one percent of humanity controls as much wealth as the other 99 percent will never be stable."