Biden Cites Threat From ‘Extreme Wealth’ in Farewell Address (2)

President Joe Biden warned Americans of a “dangerous concentration of power” in the hands of a “very few ultra-wealthy people” and the impact he feared it would have on the country’s democracy as he delivered a farewell address Wednesday from the Oval Office.

“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, a fair shot for everyone to get ahead,” said Biden, who was joined by his family and longtime aides.

The president said he worried of the consequences if wealthy Americans used ...