Major Banks and Wall Street Still in the Doghouse

Apparently the financial sector has a ways to go in regaining consumer trust. A Time/Abt SRBI poll last month asked people to say how good a job various players had done “in taking steps to avoid another financial crisis in the future like the one we’ve just had.” Fewer than one in 10 said major banks and other Wall Street institutions have been either “excellent” (1 percent) or “good” (6 percent) in this respect. Thirty-eight percent termed their performance “only fair,” while 50 percent called it “poor.” The rest were unsure.

It’s not as if respondents think others have done much better. For instance, 1 percent gave “excellent” marks (and another 13 percent a “good” rating) to the steps federal regulators have taken to prevent another financial crisis.

They also regard the performance of “the American people” as lackluster: 3 percent rated it “excellent,” 28 percent “good,” 47 percent “only fair” and 15 percent “poor.”