Washington Post-ABC News POLL: Majority Backs So-Called " PERMANENT BAILOUT " Fund

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<http://theplumline.whorunsgov.com/senate-republicans/poll-majority-backs-so-called-permanent-bailout-fund/>


The new Washington Post/ABC News poll is rightly getting a lot of attention this morning because it finds that a huge majority backs financial reg reform, with Americans trusting Obama over Republicans on the issue by a lopsided amount.


But there’s also this interesting number buried in the internals:


Please tell me whether you support or oppose each of these items. Do you feel that way strongly or somewhat?


b. Requiring large banks and other financial companies to put money into a fund that would cover the cost of taking over and breaking up any large financial company that fails and threatens the broader economy:


Support: 53%
Strongly 27%
Somewhat 26%

Oppose: 42%
Strongly 24%
Somewhat 18%


This is, of course, the provision that has been derided by Mitch McConnell for leading to “endless taxpayer bailouts.” Yet it’s supported by a majority, 53%, with 27% supporting it strongly.


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Washington Post-ABC News POLL:


Most back stricter financial reform, advantage Obama


About two-thirds of Americans support stricter regulations on the way banks and other financial institutions conduct their business, according to a new Washington Post-ABC News poll.

Majorities also back two main components of legislation congressional Democrats plan to bring to a vote in the Senate this week: greater federal oversight of consumer loans and a company-paid fund that would cover the costs of dismantling failed firms that put the broader economy at risk.


- Approve -- -- Disapprove -- No
NET Strgly Smwht NET Smwht Strgly opin.
Regulation of
the financial
industry 48 22 26 48 14 33 4

Q: Whom do you trust to do a better job handling - (Obama) or (the Republicans in Congress)?

Both Neither No
Obama Reps (vol.) (vol.) opinion
Regulation of the
financial industry 52 35 1 11 2

Q (HALF SAMPLE): Do you support or oppose stricter federal regulations on the way banks and other financial institutions conduct their business?

----- Support ----
NET Much Smwht Oppose No opinion
4/25/10 65 34 32 31 4
2/8/10 62 36 26 34 3
2/22/09 76 49 27 22 2

Q (HALF SAMPLE): Do you support or oppose stricter federal regulations on the way Wall Street firms conduct their business?

----- Support ----
NET Much Smwht Oppose No opinion
4/25/10 63 35 28 29 8

Q: Please tell me whether you support or oppose each of these items. Do you feel that way strongly or somewhat?


a. Having the federal government regulate the complex financial instruments known as derivatives

----- Support ----- ------ Oppose ----- No
NET Stgly Smwht NET Smwht Stgly op.
4/25/10 43 16 26 41 19 21 17

b. Requiring large banks and other financial companies to put money into a fund that would cover the cost of taking over and breaking up any large financial company that fails and threatens the broader economy

----- Support ----- ------ Oppose ----- No
NET Stgly Smwht NET Smwht Stgly op.
4/25/10 53 27 26 42 18 24 5

c. Increasing federal oversight of the way banks and other financial companies make consumer loans, such as mortgages and auto loans, and issue credit cards

----- Support ----- ------ Oppose ----- No
NET Stgly Smwht NET Smwht Stgly op.
4/25/10 59 36 23 38 15 24 2

This poll was conducted April 22 to 25, among a random national sample of 1,001 adults. Interviews were conducted on conventional and cellular telephones. The results from the full sample have a margin of sampling error of plus or minus three percentage points.


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<http://voices.washingtonpost.com/behind-the-numbers/2010/04/most_back_stricter_financial_r.html?hpid=topnews>