Posted on 03/22/2023 2:26:42 PM PDT by Olog-hai
Only 10% of U.S. adults say they have high confidence in the nation’s banks and other financial institutions, a new poll finds. That’s down from the 22% who said they had high confidence in 2020.
Following the collapse of Silicon Valley Bank this month, the poll from The Associated Press-NORC Center for Public Affairs Research also finds that a majority say the government is not doing enough to regulate the industry.
The underwhelming assessment of America’s banks and bank regulation comes after a series of shocks brought back disturbing memories of the 2008-2009 financial crisis. […]
Though confidence in banks and financial institutions has decreased even since the last time that question was asked on an AP-NORC poll in 2020, low confidence among Americans in their public institutions is nothing new — the General Social Survey, which has tracked trends in public opinion for decades, shows that confidence in institutions ranging from the financial industry to organized religion and from the news media to Congress has declined substantially since the 1970s. The new poll shows few Americans have high confidence in any branch of the U.S. government. …
(Excerpt) Read more at apnews.com ...
“Faith”? No “faith” in man or anything made by him; confidence, maybe, but never faith.
Does anyone have confidence in any institution?
I removed a few hundred dollars from my checking account on Monday and put it in my pocket. one never knows when it might become necessary to have some cash on hand. And since the bank pays next to zero interest, I lose nothing.
Consider the language AP is using here.
We pulled the plug on Wells Farrago and went full credit union.
Exactly> “... also finds that a majority say the government is not doing enough to regulate the industry.” UGH!
People need to add PacWest to the banks in big trouble.
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The only reason I put my money in the bank is because, I don’t trust putting it in my refrigerator or under my mattress. But apparently, I shouldn’t trust the banks with my money either.
Fair question. With the weaponization of the government against conservatives, then all government programs are in question.
Funny. The CCP has full trust that Yellen and the Fed will make them whole.
We’ve used a credit union for decades. But that’s just banking for checks and short term stuff.
Only 10% of U.S. adults saving money
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