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“Main Street versus Wall Street” is more than a catchphrase, but real people who face real consequences from the economic meltdown.
At a Wall Street reform hearing in St. Paul, MN, Senator Al Franken heard from struggling small business owners, individuals in their fifties who are rebuilding their retirement funds, and nonprofits faced with quadrupled caseloads. Catholic Charities describes them as the middle 60%: working families earning between $15,000 and $70,000 annually. They were just making ends meet when unemployment was low, the stock market was up, and real estate values were high. Today, they’re getting hit hardest.
A 49-year-old building contractor confessed, “I’m not the sucked-up-to-the-government-hog type person. I don’t want to ask for help. I’m not sure what to ask for, but this is my situation.”