"I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has become known as index funds."

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It used to be that the working class, broadly speaking - Americans who worked with their hands, who worked in factories, who were not in management - were an interest group, a political interest group. And their main spokespersons were the Democrats. Their platform was the Democratic Party. And that began to change after the 1960s. Not for black or other working class Americans, but for white working class.

— George Packer