Politics

Americans Overwhelmingly Support Wall Street Reform, Republicans Say No

By Karina

Nearly two years after Republicans? failure to provide common-sense oversight of Big Banks and Wall Street almost brought down our financial system and resulted in 8 million American jobs lost, Congressional Republicans continue to protect Wall Street over Main Street. They are even threatening to block Wall Street reform from being debated in the Senate.

Democrats in Congress are committed to reining in Big Banks and Wall Street to ensure consumers and small businesses on Main Street are protected from financial crises in the future.

A new Washington Post/ABC News poll released this morning shows a majority of Americans support Wall Street reform and believe President Obama is more capable of handling this effort than Congressional Republicans. From the poll:

65% of Americans support stricter financial regulations on the way banks and other financial institutions conduct their business ? by a 34-point margin (65% compared to 31%).

More Americans say they trust President Obama over Congressional Republicans to handle financial industry regulation ? 52% support the President compared to 35% for Congressional Republicans, a 17-point margin.

Just days before House Republicans voted unanimously against the Wall Street Reform and Consumer Protection Act?legislation to reform Wall Street, reform executive pay, end taxpayer funded bailouts and unwind so-called ‘too big to fail’ firms, hold the big banks and financial firms accountable to American taxpayers and reform executive pay?House Republicans met with 100 banking and special interest lobbyists in an effort to kill the reform legislation. For American workers, families and small businesses, the message is clear?Republicans are siding with Wall Street over Main Street every time.

Learn more about the Wall Street Reform and Consumer Protection Act»

Full post as published by The Gavel on April 26, 2010 (boomark / email).