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Americans Despise Wall Street

Toro

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Want to know who the Democrats' next target will be?

Most people interviewed in the Bloomberg National Poll say they don’t like Wall Street, banks or insurance companies and favor letting the government punish bankers who helped cause the worst financial crisis since the Great Depression. ...

As the country struggles with a 9.7 percent unemployment rate while financial stocks surge, 57 percent of Americans have a mostly unfavorable or very unfavorable view of Wall Street, versus fewer than one-quarter who have a favorable opinion. Banks are viewed badly by 54 percent of poll respondents, and 60 percent have a negative opinion of insurance companies.

Disdain for Executives

The poll also shows most Americans don’t like the nation’s top corporate bosses. Almost two-thirds say they have an unfavorable opinion of business executives, a rating that rivals the public’s disdain for Congress, which was viewed with disfavor by 67 percent of respondents. ...

Low esteem for financial firms was reflected in resentment of big paychecks on Wall Street.

Fifty-six percent of those polled say they would support government action to limit compensation of those who helped cause the financial crisis, or to ban those people from working in the banking industry. ...

Wall Street Despised in Poll Showing Majority Want Regulation - Bloomberg.com
 

Old Rocks

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It is very hard not to feel extreme resentment against the people who caused this massive economic debacle. Especially when there are so many out of work through no actions of their own. Out of work, losing their homes, and no health insurance for the family. And the people who caused all of this are still pulling down huge salaries, sometimes in the tens of millions.

This is a prime example of the need for regulation in the market. Even Smith recognized that. The fact that the working man's salary has not gone up in real terms for almost 30 years. Yet these peoples salaries have constantly increased, whether or not the companies were making money. Down at the blue collar level, failure is not rewarded.

Yet there is a danger here. For too much regulation, or regulation of the wrong type, can harm the nation as a whole. Right down the factory floor level. The regulation need doing. But it has to be done well. The economic system needs medicine, not poison.
 

blu

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what is there to like about wall street again? how many trillions have been stolen by them and then used for their own personal profit? how many taxpayer dollars did they take just to use to lobby congressmen to enable further billions?
 

blu

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How many jillions of dollars have they donated to the very leftist ingrate goons now demonizing them?

doesn't make them any better. both the Rs and the Ds protect them since they funnel the money right back to them.
 

Xenophon

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Hey, why not destroy capitalism, its not like we are using it lately.
 

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