Poll: Wall Street “Despised”

Go figure:

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 . . .

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.

Won’t anyone come to the defense of Wall Street?

I have spent the better part of the past 5 years trashing the street — their poor asset management, biased research, over-compensation system, backdated options, gamed earnings, phony accounting, and earnings manipulation.

If no one else will defend the Street, am I going to have to do it? I think others might be (heh heh) less snide or sarcastic in what they say about the Street.  I’ll do it if no one else will — but lots of people will be very unhappy about what I write . . .


Wall Street Despised in Poll Showing Majority Want Regulation
John McCormick and Alison Vekshin
Bloomberg, March 24

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