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Public Gives High Marks to Tougher Financial Regulation, but Pans Other Measures

3 years ago
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The new law increasing regulation of banks and the financial industry is the only one of five major initiatives passed by Congress that gets support from a majority of Americans, according to a Gallup poll conducted Aug. 27-30.

Sixty-one percent approve of the legislation that expanded federal banking and securities regulation, brought the trade in derivatives under government oversight for the first time, and created a council of federal regulators to monitor the financial system as well as a new regulator to protect consumers. Thirty-seven percent disapprove of the measure.
The government bailout of financial institutions in danger of failing (known as the Troubled Assets Relief Program or TARP) is the most unpopular of the five with 61 percent of the public disapproving of it while 37 percent approve. The measure, passed in 2008 towards the end of the Bush administration, has ignited a populist backlash in this year's midterm election campaigns and many lawmakers who voted for it have found themselves on the defensive.
Bank bailout
Fifty-six percent disapprove of the aid government gave to automakers and the health care reform measure that passed last spring. Forty-three percent approve of the aid to automakers and 39 percent back the health care reform legislation.

Fifty-two percent disapprove of the $787 billion economic stimulus package that was passed last year while 43 percent approve of it. This, too, has become a political hot potato in this year's campaigns with Democrats saying it saved large numbers of jobs that would have been lost and Republicans pointing to the stubbornly high unemployment rate as evidence that it had failed to create jobs.

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jspe7

TARP was a Bush bailout of his crooked friends on Wall Street, while the Obama stimulus was a very good Obama plan which saved millions of jobs, including those of the ones who are always complaining about Obama, but never about the one who put this country in such dire straits, Bush Anyone know how many jobs were lost since the Great Bush Recession started in 2007---------8 MILLION

September 13 2010 at 6:28 PM Report abuse rate up rate down Reply
Rob & Kathy

The left's constant whining about Bush is getting tiresome. Complaining about Bush won't solve a single problem we have. Blaming Bush and playing the race card is all they have to offer...

September 13 2010 at 3:12 PM Report abuse +7 rate up rate down Reply
Eric

Andrc657 was right that President Bush began TARP. President Obama had to continue it when AIG, and GM happened. He took office "in the midst of a crisis." I hated TARP as much as he and others did. Obama thought if he and Congress did nothing, then things would have been much worse. Therefore he thought: "I would rather be critized for the cost of doing something, than for the cost of doing nothing." He and Congress were critized for it though; the critizizm would have been MUCH WORSE, had he done the opposite.

September 13 2010 at 2:00 PM Report abuse -4 rate up rate down Reply
vobox3343

This Obama administration is on the right track. If the detractors and obstructionists, for whatever reason, would simply quit barking, we'd probably see better growth. Negativity slows anything positive.

September 13 2010 at 1:46 PM Report abuse -7 rate up rate down Reply
andrc657

You didn't point out that it was President Bush who passed the unpopular TARP bailout.

September 13 2010 at 11:58 AM Report abuse -1 rate up rate down Reply

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