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  • New Bloomberg Poll Reveals Americans Distaste for Bankers, Banks, Execs, and Desire for Regulation--but not Much Faith in Politicians

    Bloomberg has released the results of a new national poll on Americans' attitudes toward Wall Street, bankers, and regulation of financial institutions. The poll shows that Americans are not too fond of anyone at this moment::bankers, insurance companies, Wall Street, corporate executives. And while they favor "punishing banks," nearly 70% say they want the government to regulate consumer protection through currently available means, rather than establish a new agency. John McCormick and Alison Vekshin report: As Democrats and Republicans seek to tap populist ire, the poll shows there may be political advantage in taking on big financial institutions such as Charlotte, North Carolina-based Bank of America Corp. , and New York’s Goldman Sachs Group Inc. The majority of poll participants -- 56 percent -- say big financial companies are more interested in enriching themselves at the expense of ordinary people, while 40 percent say such firms play a vital role in enabling the economy to grow. At the same time, Americans are divided over the scope of government regulation. More than 40 percent of Americans say the government has gone too far in measures to fix the financial industry; 37 percent say it hasn’t done enough. Almost six out of 10 people say Wall Street hasn’t gone far enough on its own to protect against future emergencies. “Anything the government gets their fingers in, they mess it up,” said poll participant Norman White, 60, a community college electronics instructor who lives in Colfax, Louisiana . “I don’t have a very high opinion of the government running anything.” Read Wall Street Despised in Poll Showing Majority Want Regulation here .
  • Bllomberg: SEC's Mary Schapiro 'In Conversation'

    Securities and Exchange Commission Chair Mary Schapiro has a big task: to build up the public's trust in the SEC after the Bernard Madoff disaster, and myriad questions about what exactly happened during Bank of America's takeover/rescue of Merrill Lynch. In an interview with Judy Woodruff for Bloomberg , Schapiro says that the SEC is already doing a better job of catching other "Madoffs." She also says the SEC has replaced a lot of its senior leadership, and is poised to run more smoothly: