Poll: Americans Want More Regulation

70% say lack of oversight caused economic woes
By Katherine Thompson,  Newser Staff
Posted Oct 15, 2008 11:19 AM CDT
John F. Bovenzi, who was made CEO of IndyMac Bancorp in July, reassured consumers that bank failures have been rare in the past, and that if more banks do fail, the government has enough in reserve.   (AP Photo)
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(Newser) – What caused the financial and housing crises? Three-quarters of Americans think a lack of federal regulation played at least some role in current economic woes, and 90% characterize the economy as doing badly, according to a Los Angeles Times/Bloomberg poll. When asked about the most crucial financial focus for the next president, the majority cited regulation.

The opinion that lack of regulation contributed to the financial collapse holds at around 70% across various demographic groups, and nearly half want more regulation in the future. "I always thought the least amount of government in people's lives, the better," says one Republican respondent. "But now you see what happens when you take it to the extreme."