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Poll: Americans Support Financial Reform

Submitted by on February 17, 2010 – 4:52 pm

The Pew Research Center recently found that a majority of Americans supports government regulation of financial companies.  Read their fullresults here,  and here are excepts from the findings:

While the public is wary of too much government, it makes an exception when it comes to stricter regulation of major financial companies. A clear majority (59%) says it is a good idea for the government to more strictly regulate the way major financial companies do business; just 33% say this is a bad idea. Support for tougher regulation of financial firms is as high as it was last April (60% good idea).

There are other indications of a public backlash against large financial institutions. Just 25% say they have a favorable opinion of major U.S. banks and financial institutions while 68% have an unfavorable view. Negative views of large financial institutions are evident across political lines: 72% of Democrats, 68% of independents and 67% of Republicans have an unfavorable impression of such institutions.

Notably, there is considerably more public anger about banks and financial institutions paying large bonuses to their executives than there is over the government bailout of banks, partisan gridlock in
Washington, or the growing budget deficit. Fully 62% say they are
angry over the large bonuses, while 48% say they are angry over the
government bailing out financial institutions that made poor financial
decisions. By comparison, fewer than half say they are angry over
gridlock between Republicans and Democrats in Washington (39%) and the growing budget deficit (37%).

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