Make us your home page
Instagram

Wall Street, big banks hurt mainstream Americans, survey finds

Regulation of the financial industry is poor or fair, about 89 percent of respondents said.

Associated Press

Regulation of the financial industry is poor or fair, about 89 percent of respondents said.

WASHINGTON — Nearly two-thirds of voters say the stock market is rigged against them and a majority say Wall Street and big banks hurt average Americans, according to poll results released last week by a pro-regulation group.

The survey commissioned by Better Markets also found that 60 percent of voters support stricter federal regulation of banks and other financial institutions.

About 74 percent of Democratic voters and 56 percent of independents favored tougher oversight, while 46 percent of Republicans did, according to the nationwide poll of 1,000 people likely to vote in this fall's elections.

The poll was conducted by Democratic firm Greenberg, Quinlan and Rosner Research and has a margin of error of 3.5 percent.

The results were released in conjunction with last week's fourth anniversary of the passage of the Dodd-Frank financial overhaul law.

The legislation, which Congress approved with almost no Republican support, created the Consumer Financial Protection Bureau and enacted regulations designed to prevent future financial crises and government bailouts.

The poll showed that voters are strongly dissatisfied with federal oversight of Wall Street and large banks nearly six years after the 2008 financial crisis.

About 89 percent of respondents said the federal government does a poor or fair job of regulating the financial industry.

About 64 percent of the respondents, and 62 percent of those who own stocks, said they agreed with this statement: "The stock market is rigged for insiders and people who know how to manipulate the system."

About 32 percent of respondents, and 35 percent of those with stocks, said they believe the market is not rigged and "mostly fair for everyday investors."

When asked if Wall Street and big banks "hurt everyday Americans," 55 percent of respondents agreed and 41 percent disagreed.

Democrats felt most strongly that large financial firms hurt average Americans, with 62 percent agreeing. About 57 percent of independents and 46 percent of Republicans agreed.

Wall Street, big banks hurt mainstream Americans, survey finds 07/18/14 [Last modified: Friday, July 18, 2014 3:28pm]
Photo reprints | Article reprints

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Memorial Day sales not enough to draw shoppers to Tampa Bay malls

    Retail

    TAMPA — Memorial Day sales at Tampa Bay area malls were not enough to compete with the beach and backyard barbecues this holiday weekend.

    Memorial Day sales weren't enough to draw shoppers to Tampa Bay area malls over the long weekend. 
[JUSTINE GRIFFIN | Times]
  2. Austin software company acquires second Tampa business

    Corporate

    Austin, Tex.-based Asure Software acquired Tampa's Compass HRM Inc. late last week for $6 million. Compass focuses on HR and payroll.

    [Company photo]
  3. Hackers hide cyberattacks in social media posts

    Business

    SAN FRANCISCO — It took only one attempt for Russian hackers to make their way into the computer of a Pentagon official. But the attack didn't come through an email or a file buried within a seemingly innocuous document.

    Jay Kaplan and Mark Kuhr, former NSA employees and co-founders of Synack, a cybersecurity company, in their office in Palo Alto, Calif., in 2013. While last year's hacking of senior Democratic Party officials raised awareness of the damage caused if just a handful of employees click on the wrong emails, few people realize that a message on Twitter or Facebook could give an attacker similar access to their system. 
[New York Times file photo]
  4. Big rents and changing tastes drive dives off St. Pete's 600 block

    Music & Concerts

    ST. PETERSBURG — Kendra Marolf was behind the lobby bar of the State Theatre, pouring vodka sodas for a weeknight crowd packed tight for Bishop Briggs, the latest alternative artist to sell out her club.

    Sam Picciano, 25, left, of Tampa and Molly Cord 24, Palm Harbor shop for record albums for a friend at Daddy Kool Records located on the 600 block of Central Avenue in St. Petersburg, Florida on Saturday, May 20, 2017. OCTAVIO JONES   |   Times
  5. How Hollywood is giving its biggest stars digital facelifts

    Business

    LOS ANGELES — Johnny Depp is 53 years old but he doesn't look a day over 26 in the new "Pirates of the Caribbean" movie — at least for a few moments. There was no plastic surgeon involved, heavy makeup or archival footage used to take the actor back to his boyish "Cry Baby" face, however. It's all …

    This combination of photos released by Disney, shows the character Jack Sparrow at two stages of his life in "Pirates of the Caribbean: Dead Men Tell No Tales."  Johnny Depp, who portrays the character, is the latest mega-star to get the drastic de-aging treatment on screen
[Disney via Associated Press]