As Congress considers sweeping and extremely complicated financial reforms, a new poll from Rasmussen Reports delivers a surprise on Americans’ attitudes toward financial regulation:
52% of adults oppose more government regulation of the financial sector, up from 47% in June when the president first proposed it to prevent a repeat of last year’s Wall Street meltdown. Twenty-eight percent (28%) favor allowing the government more oversight of the financial system, while another 20% aren’t sure.
It’s extremely unlikely that many Americans understand the complex bill that passed the House last week along party lines. But conceptual opposition to more financial regulation suggests that most Americans are not buying the narrative advanced by both President Bush and President Obama, about a financial crisis caused by lack of oversight and a need for more government involvement as the cure for future economic crises.
