Poll shows most Americans support financial reform
When looking closer at reform, 59 percent favor stricter regulations and better federal oversight on consumer loans and credit card terms. The public also favors, 53 to 42 percent, the creation of a bank-funded account that would allow large financial firms to liquidate their assets.
A $50 billion fund included in the Senate bill is a major point of contention in discussions on the measure. Republicans argue the fund allows for taxpayer-funded bailouts whereas Democrats say it would simply provide a fund from which failing firms could draw some cash and it wouldn’t be used to save struggling companies. The Obama administration opposes the fund.
Those polled on allowing regulations on derivatives also was divided — 43 percent in favor and 41 percent opposed while 17 percent have no opinion — with a large number unfamiliar with the issue.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..