
(AP)
It has been a year since the failure of Lehman Brothers and the subsequent financial and banking crisis on Wall Street that brought the U.S. economy to the brink of collapse; while for months Americans have ranked the economy as the most important problem the country faces, opinions about measures to address the economic instability resulting from last fall's events have found mixed support at best.
In polls conducted last fall, both the general principle of providing government assistance to financial institutions and the specific legislation Congress passed last fall met with lukewarm public support.
A CBS News/New York Times poll conducted September 21-24, 2008, in the immediate aftermath of the collapse of Lehman Brothers, found just 42 percent of Americans approved of the government providing money to Wall Street, and more, 46 percent, disapproved. Those sentiments transcended partisanship: just 43 percent of Republicans, 41 percent of Democrats and 4 percent of independents approved. By October, just 36 percent approved of this approach, and 52 percent disapproved.
Views have not changed much since then. In March 2009, a CBS News Poll found 41 percent approved -- and more, 50 percent, disapproved -- of the government providing money to banks and other financial institutions to try to "help fix the country's economic problems."
Why such lukewarm support for these plans, which were presented as helping the U.S. economy avoid the worst economic crisis since the Great Depression?
One answer could be the blame Americans placed on the banks themselves for the financial troubles they were experiencing. The September 2008 poll found that 46 percent of the public thought that bad management by the banks was to blame for those problems, and just 27 percent thought that a lack of government supervision was to blame. Another 17 percent thought both were at fault. By March, fully 75 percent of Americans felt that the banks' problems were caused by management decisions, and only 17 percent thought they were the result of conditions beyond the banks' control.
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