Elizabeth Warren has done a lot of research on the plight of the middle class as a professor at Harvard University,  long before the financial crisis happened.

Interestingly, before Elizabeth started her research, she was a Republican, and she was out to find out why there was such an increase in bankruptcies in our country.  She started her research believing that people were over spending on eating out, buying expensive luxuries such as home entertainment centers, etc.

Elizabeth’s research results surprised her, and it has changed her viewpoints.  I think you will find this 2004 interview very enlightening.