Posted on 09/14/2009 3:55:52 PM PDT by SeekAndFind
Stocks aren't the only things falling--America's confidence in Wall Street and banks is plummeting too.
Last year this time, the markets nosedived after the Lehman bankruptcy on Sept.14, 2008.
One year later, how has public opinion fared? How do Americans feel about the institutions that have dominated the headlines in our cascading financial crisis? Fortunately for students of public opinion, several survey organizations have been asking identical questions about our confidence in the financial world for decades.
In 1977, Harris asked about people "in charge of running Wall Street," and 19% of those polled expressed a great deal of confidence. Over 30 years later, in Harris' February 2009 survey, only 4% had that same level of confidence, 33% had "only some," and 57% had "hardly any at all." In terms of high confidence, Wall Street ranked lower this year than any of the other 15 institutions Harris examined--even lower than Congress, which was at 9%, an institution whose ratings are usually low.
In Harris' trend, high confidence in Wall Street declined throughout the 1980s, a downward spiral that began before Oliver Stone's film by that name came out in 1987. The low point for the decade, which was 8%, came in 1989. Whether his sequel, Wall Street 2, which will be released in April 2010, will have any effect remains to be seen. In an interview with TheNew York Times last week, Stone and the film's star, Michael Douglas reported being surprised by the number of people who were attracted to the original film's seductive villain, Gordon Gekko.
(Excerpt) Read more at forbes.com ...
Forbes has one of Obama’s earliest supporters and closest advisors writing columns in their magazine. He has been for over a decade and Forbes helped make him rich so Forbes helped elect Obama. I cancelled my subscription.
well after what bamer said today it should....it scared me to think he is at the head of redoing the marktet...chief pimp is not much of a quailfication for over hauling the market....another crisis that needs union control....uuhhhh thats organized crime.
Well we gave em a trillion of fresh printed money and they still have 700 bil of bad loans...hmmm. Let them fail.
With Obama running the banks and Wall Street, Americans are wise to distrust them. If I had any money, I’d be looking for ways to keep the government away from it.
Well, there’s your SIGN!
I am just estimating. I am not an expert. I would need a Cray Computer to discombobulate all this bullsh*t.
You’re not supposed to understand this.
It’s the old “dazzle ‘em with bullshit” routine.
Banks ARE Plummeting.
Well I am truly dazzeled. How the market goes up with all the Bullshit. It has to be a scam.
Well I am truly dazzeled. How the market goes up with all the Bullshit. It has to be a scam.
Well I am truly dazzeled. How the market goes up with all the Bullshit. It has to be a scam.
Anti-gravity machine that was first recovered at Roswell has been upgraded for use in Washington and New York City....
Ever play Musical Chairs?
Wasn’t the total of outstanding derivatives in the trillions and trillions.
The level of meaningless bullfeathers populists will shovel...
The article says the market is plummeting. Um, it is up 50% since March, and the story is 6 months stale. But any class-war port in a crapstorm...
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