Support for Bank Bailouts at 6%
A new Zogby Interactive poll shows support scraping bottom for giving federal money to shore up big banks. The survey of 4,112 adults completed last week found only 6% believe we should “continue providing government money to banks, as well as buying their troubled assets, with the hope that banks will increase lending” as the best option to take regarding failing big banks.
Slightly more than one-half (51%) oppose providing any more federal money to banks, “even if that means some of the banks would go out of business.” The third option we gave respondents was a temporary takeover of the most troubled banks, with the government eventually selling the banks back to private investors. Nearly one-third (32%) like that idea.
The survey also tested whether adults believed President Obama was forcing change too quickly, with 32% agreeing. That was less than the 38% of said Obama’s actions have been “just about right.” The third option was that Obama “has been too timid and should take more bold and immediate action,” which was the choice 10%. The remaining 20% didn’t like any of those options, or were not sure.
There was considerable partisan difference on this question, with 62% of Republicans saying Obama is bring too bold and 66% of Democrats saying he is “just about right.”
If you are one of those who oppose the current bailout program, would you be just as opposed to a temporary government takeover of some banks? Do you have any other ideas about how to free up capital for lending?
Just 6% Prefer Giving Federal Money to Banks And 51% Say No Funding Even If Banks Fail
http://www.zogby.com/news/ReadNews.cfm?ID=1687
Minority Believes That Obama Forcing Change Too Quickly
UTICA, NY - Only 6% of adults believe having the federal government provide money to large banks and buy their troubled assets is the best action to take in resolving the banking crisis. One-half do not want the government providing more money to banks, even if that means some would go out of business. One-third wants the government to take over failing banks and sell them back to private investors if and when they recover.
The same Zogby Interactive poll of 4,112 adults found that 38% believe President Barack Obama's actions to improve the national economy have been "just about right," and 31% say he has been "too bold and should not force too much change too quickly." Another 10% say Obama has been "too timid, and should take more bold and immediate action."
The poll was conducted March 25-27, and has a margin of error of +/-1.6%.
Participants were offered three solutions (not including "none of these" and "not sure") "regarding very large banks that are in trouble." Here are the options, followed by total responses for each and by party enrollment:
Continue providing government money to banks, as well as buying their troubled assets, with the hope that banks will increase lending.
| All | Democrats | Republicans | Independents |
| 6% | 10% | 3% | 4% |
Do not continue providing government money, even if that means some of the banks would soon go out of business.
| All | Democrats | Republicans | Independents |
| 51% | 20% | 81% | 60% |
The federal government should temporarily take over those banks that would fail without help, with the government selling the banks back to private investors if and when the banks recover.
| All | Democrats | Republicans | Independents |
| 32% | 55% | 9% | 26% |
Another 11% chose none of these or were not sure.
The question that assessed President Obama's actions to improve the economy also offered three statements, and asked which came closest to the respondent's attitude. Here are the statements, followed by total responses for each and by party affiliation:
He has been too timid, and should take more bold and immediate action.
| All | Democrats | Republicans | Independents |
| 10% | 17% | 2% | 10% |
He has been too bold, and should not try to force too much change too quickly.
| All | Democrats | Republicans | Independents |
| 32% | 6% | 62% | 34% |
His actions have been just about right.
| All | Democrats | Republicans | Independents |
| 38% | 66% | 6% | 32% |
Respondents could also choose "none of these," and 16% did so. Another 5% were not sure.
There were differences based on both age and income. First GlobalsTM (ages 18-29) were most likely to believe Obama's actions were "just about right" (41%) or "too timid" (14%.) The numbers saying Obama "has been too bold" increased with age, culminating with 39% of those 65 and older choosing that. Lower income adults were more likely to say Obama's action have been "just about right" (52% of those with annual family incomes below $25,000.) Those in the highest annual family income group measured, $100,000 and more, were most likely to say Obama has been too bold (36%).
Pollster John Zogby: "Bailing out banks could hardly be any more unpopular. One-half of adults oppose giving any more money to banks, even though they know some may fold without the money. It is notable that one-third prefers nationalizing some banks, showing a base of support for the idea should the Obama Administration choose that route and try to sell it to the public. Just under 50% believe Obama is trying to move too quickly, and this is similar to other polls conducted on similar issues."
For a methodology statement on this poll, please visit:
http://www.zogby.com/methodology/readmeth.cfm?ID=1395
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