print logo
RSS FEED

How's Business?

From the Magazine: Thursday, January 15, 2009

Americans believe Wall Street’s contributions to the economy are essential, but its leaders rank poorly.

RatingWallStreet.jpg

DataPoints1.jpg

DataPoints2.jpg

WallStreetPlus&Minus.jpg

Even before the market’s recent troubles, confidence in the people running Wall Street was not robust—our first figure (see above) shows that in early 2008 only 11 percent of Americans had a great deal of confidence in them. That puts Wall Street on a par with Congress, the press, organized labor, and law firms. High confidence in Wall Street reached a peak of 30 percent in the halcyon economic days of 1999 and 2000. Around a quarter of those asked in recent years have had hardly any confidence in those running Wall Street. Republicans are slightly more inclined than Democrats to regard the people running Wall Street highly.

DataPoints3.jpg

DataPoints4.jpg

The proportion of Americans saying they have a great deal or quite a lot of confidence in banks was near a three-decade low in a June 2008 Gallup survey. Of the 16 institutions included in the poll, banking was the only one to suffer a sharp decline in confidence from 2007. Confidence in banks is considerably higher, however, than confidence in Congress.

Banking on Banks.jpgDataPoints5.jpg

Illustrations by Otto Steininger.

Most Viewed Articles

‘The American Banking System Might Not Last Until Monday’ By Alex J. Pollock 08/18/2014
Learning from the crises you’ve forgotten.
A Flawed E-Cigarette Regulation By Sally Satel and Alan D. Viard 08/13/2014
The FDA's proposed regulation should not go forward in its current form, or it will undermine ...
100 Years of the Panama Canal By John Steele Gordon 08/15/2014
One of the supreme engineering feats of the early 20th century, the canal has been an immense boon ...
The Long-Hours Luxury By Tino Sanandaji 08/04/2014
One factor that is often overlooked in the debate over causes of income inequality is a shift in ...
Big Data: Here to Stay, but with Caveats By Edward Tenner 07/30/2014
Criticism of big data is due to three paradoxes. For starters, it's ubiquitous but hard to define.
 
AEI