Biden warns of oligarchy forming in US during White House farewell speech

President Biden warns in his farewell address that "today, an oligarchy is taking shape in America."

He says it's "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." pic.twitter.com/CxPdnWagyJ

— CBS News (@CBSNews) January 16, 2025