Survey Shows Strong Support for Financial Regulation

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This article, written by Tory Barringer, brings to light the fact that most voters think that the government should take a strong role in overseeing Wall Street. Please read the article below and let me know what you think.

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As the calendar approaches September 15, marking the anniversary of the collapse of Lehman Brothers, the nation is reminded of that historical event which severed the very fabric of our financial system.

It’s been five years since that fateful day, and the Center for Responsible Lending (CRL) says Americans-regardless of political party, age, race, or locale-overwhelmingly support financial regulation, and in particular, increased consumer protections.

CRL and Americans for Financial Reform contracted a research group to poll 1,004 likely voters on their feelings toward Wall Street, reform measures that have been implemented, and reforms that have been proposed. They found consumer support for tough financial reform and the Consumer Financial Protection Bureau (CFPB) remains strong.

While the issue of financial regulation has been an area of contention in Washington, the survey actually found that the electorate overwhelmingly favors it, with 96 percent of Democrats, 95 percent of Independents, and 89 percent of Republicans saying they believe financial regulation is “important” or “very important.”

Overall, 83 percent of voters (including 89 percent of Democrats, 82 percent of Independents, and 75 percent of Republicans) said they favor tougher regulation of “Wall Street financial companies” when that statement is presented alongside the alternative of “their practices have changed enough that they don’t need further regulation.”

To see the complete article – please use the link below.

Support for Financial Regulation

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