March 23rd, 2010
02:46 PM ET
8 years ago

Poll: 53 percent want new rules for Wall Street

A new CNN/Opinion Research Corporation poll reveals that 53 percent of Americans favor new restrictions on banks.

A new CNN/Opinion Research Corporation poll reveals that 53 percent of Americans favor new restrictions on banks.

Washington (CNN) - A little more than half of Americans want Congress to impose tighter regulation over Wall Street, a new survey released Tuesday found.

According to a CNN/Opinion Research Corporation poll, 53 percent favor legislation that would place new restrictions on banks and other financial companies, while 43 percent oppose it.

The Obama administration and Democrats in Congress have led the move to rewrite the rules of finance. But little progress has been made some 18 months since the height of the financial panic in September 2008.

The House passed a comprehensive bill last December that would impose more oversight and stronger capital cushions for the largest banks and Wall Street firms.

The push has been much slower going in the Senate. On Monday, the Senate Banking, Housing, and Urban Affairs Committee voted on party line to pass a Wall Street overhaul bill by its chairman, Connecticut Democrat Chris Dodd. The bill is expected to face strong opposition from Republicans and industry lobbyists as it heads to the Senate floor.

In fact, the issue draws out sharp party differences. The CNN poll found that 68 percent of Democrats and 51 percent of Independents favor bank legislation. By contrast, only 35 percent of Republicans favor new regulation and 62 percent oppose it.

The CNN poll was conducted on March 19-21 through telephone interviews with 1,030 adult Americans. The poll has a margin of error of plus or minus 3 percentage points.

Filed under: CNN poll • Wall Street
soundoff (44 Responses)
  1. LacrosseMom

    Question is will the Party of NO, support these new rules? Answer: NO

    March 23, 2010 02:47 pm at 2:47 pm |
  2. Sketch35

    Until the republicans tell them that it's a socialist thing...

    March 23, 2010 02:48 pm at 2:48 pm |
  3. John

    Poll: 53 percent want new rules for Wall Street

    Put some saddles on them Wall Street cowboys.

    And if any of them complain, keep in mind they still get their bonuses whether they succede or fail.

    March 23, 2010 02:51 pm at 2:51 pm |
  4. El Gordo

    We 53% who want reform and sensible regulation of Wall Street, banks, global corporations, and the economy in general can keep hoping, but there is an infinite amount of money against us. Congress can only resist a certain amount of temptation.

    March 23, 2010 02:51 pm at 2:51 pm |
  5. Gorbashov - Long Beach, Ca.

    Contrary to "little progress has been made", the House has passed a bill and the Senate is about to send one to the floor for a vote. Let's make history once again, and reform the financial system so as to never have to go through a Great Recession as we are now brought on by a lax Laissez Faire regulatory scheme and supply-side economic policies.

    Yes We Can........fix this failed system as well!

    March 23, 2010 02:53 pm at 2:53 pm |
  6. Greedy Old Party

    Democrats need to jump all over this.

    Democrats are the Party-Of-The-People and Wall Street Regulation would be widely accepted by the public and viewed as the type of things that the Party-Of-Yes-We- Can would do.

    The Party-of-No would not.

    March 23, 2010 02:53 pm at 2:53 pm |
  7. David

    Of course the Republicans are against it. That is where their bread is buttered.

    March 23, 2010 02:54 pm at 2:54 pm |
  8. bennie new york

    If Barack wants to get some real support, he needs to give Wall Street the whipping it deserves.

    March 23, 2010 02:55 pm at 2:55 pm |
  9. Duck Fallas

    Wait until the right wing re-focuses and starts flooding the airwaves with commercials extolling the virtues of Wall Street and bashing those who attempt to rein in the insanity.

    "Obama and his socialist posse want a government takeover of all investing in America."

    Those poll numbers will change.

    Fear and lies WORK!! Americans are stupid, especially in the red states.

    March 23, 2010 02:55 pm at 2:55 pm |
  10. tjaman

    43 percent must not rely too much on the stock market for their retirement funds - or believe that their pension funds aren't being invested.

    March 23, 2010 02:57 pm at 2:57 pm |
  11. sonny chapman

    The desire by the public for Govt. regulation of the Free Market System is BLASPHEMY of the infallible Religion of Capitalism !!

    March 23, 2010 02:57 pm at 2:57 pm |
  12. gc

    Can't wait to watch the reps fight this one.

    March 23, 2010 03:01 pm at 3:01 pm |
  13. j

    I'd just be happy if they'd separate depositors money from the money the banks intend to take big gambles with. Depositors money should be used for low risk ventures only.

    March 23, 2010 03:03 pm at 3:03 pm |
  14. Tulsa

    lol... and the Republicans have already determined to try and derail this legislation too.

    So if the American people want reform and the Republicans ignore those polls, doesn't that mean they are doing what they say the President just did?

    Hypocrite, thy name is REPUBLICAN.

    March 23, 2010 03:07 pm at 3:07 pm |
  15. Sniffit

    Too bad now that HCR is done, the GOP is going to prevent anything else from getting done for the remainder of the year and, probbaly , for the remainder of Obama's presidency. They couldn't give 2 freeking sh-ts about the rest of us. They already staged a protest in reference to the consumer protection agency Dodd's committee is proposing. The 10 GOPers on the committe not only voted no, but refused to make any contributions whatsoever to what they ended up voting on. That's not being blocked out by the Dems...that's "I'm taking my ball and going home" school yard politics. That's what happens when you put a bunch of self-important ne'er-do-wells in positions of power. They just keep trying to get MORE power. Besides, they want us all to suffer so they can stir up more discontent and fear and then blame the Dems for it in November 2010 and 2012. I give them about 1-2 more months until they've fully overplayed their hand.

    March 23, 2010 03:07 pm at 3:07 pm |
  16. Brink

    Don't forget to include stiff prison sentences for thieves.

    March 23, 2010 03:08 pm at 3:08 pm |
  17. mark

    how about enforcing existing regulation instead of growing gvt...

    March 23, 2010 03:09 pm at 3:09 pm |

    My goodness, how can this even be an issue. The GOP wants Wall Street to continue business as usual and send us into a second meltdown on the horizon shortly. The Dems as usual are waiting for support from the GOP THEY ARE NOT GONNA GET. Get a bill that will stop these greedy totalitarians from destroying our nation.

    March 23, 2010 03:10 pm at 3:10 pm |
  19. bert

    Wallstreet, you're next!

    March 23, 2010 03:12 pm at 3:12 pm |
  20. Observer

    This just goes to show you who is in bed with the crooks. The majority of Republicans leave a bad taste in your mouth. Those are some of the slimiest people you would ever want to meet. They are just down right vile and nasty.
    I hope this is the next big push on Obama's agenda. This could probably do just as much or more for this country as health care reform. If we could get a handle on the crooks that are over Wall Street and the banks we could turn this economy around. They have crippled America with their underhanded practices.

    March 23, 2010 03:23 pm at 3:23 pm |
  21. Jill, California

    I'm sure the GOP will somehow spin this to reflect that the majority of American's are happy with the way legislation is currently written. God forbid any of their rich contributors to suffer..... This is a chance for the GOP to act in a bi-partisan way; what are the true chances of that happening? When pigs fly!

    March 23, 2010 03:25 pm at 3:25 pm |
  22. REG in AZ

    Amend to that. One angry, irrational and aggressive individual responded to one of my comments by calling me an idiot and saying that the Democrats were going to bankrupt the country and he just hoped I’d be one of the first out on the street. The reality is that we really don’t know what the Democrats’ programs will ultimately cost, they say everything will be paid for and even the deficit will be reduced, but what we do accurately know for sure is all that Bush-Cheney did, while placating and patronizing Special Interests and the select few and ignoring their responsibilities to the majority with the full and stubborn support of the Republican Party, got us were we are – with the economy trying to recover, people losing their homes and going bankrupt, companies and individuals unable to afford health insurance, unemployment at or near 10%, our infrastructure falling apart, only the few having experienced gains and so on. I think the angry individual could calm down, reject the subterfuge aimed at manipulating his emotions and thinking and evaluate whether he really wants to return to ‘more of the same’ that the Republicans are stubbornly trying to rationalize and achieve or if he sees the real need for substantial change. I for one see taking a chance on change as more promising then continuing with the known drastic negatives in ‘more of the same’.

    March 23, 2010 03:26 pm at 3:26 pm |
  23. Mr. Moderate

    You hear that Republicans – the American people want reform on Wal Street! Given that you now feel poll numbers shoud drive policy, the President looks forward to your enthusiastic support of the new rules.

    March 23, 2010 03:26 pm at 3:26 pm |
  24. CF

    ...and the GOP will still spin it to sound like the majority *do not* want new rules, will lie and misinform to convince them that they don't, all so they can make this administration look bad by doing it. Country first?

    March 23, 2010 03:28 pm at 3:28 pm |
  25. john in binghamton NY

    100% of Republicans say no or in other words we will work with you while saying no to everything and misrepresenting everything you do to score political points.

    March 23, 2010 03:28 pm at 3:28 pm |
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