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The Democratic Strategist

Political Strategy for a Permanent Democratic Majority

TDS Co-Editor Ruy Teixeira: Public Wants More Regulation of Banks and Business

In his latest ‘Public Opinion Snapshot’ at the Center for American Progress website, TDS Co-Editor Ruy Teixeira presents some numbers deregulation-loving conservatives are not going to like. Says Teixeira:

Conservatives love to interpret the current sour public mood as rejection of the government’s role in the economy. In reality, that public sentiment is primarily traceable to the poor economy and has little to do with an embrace of conservative ideological views on government.
…A recent CNN poll asked the public whether it supported or opposed the new financial regulation reform bill, which it explicitly described as increasing “federal regulation over banks, Wall Street investors, and other financial institutions.” The public said it supported the new bill by a strong 58-39 margin.

Asked if they approve or disapprove of government regulation of business in the same poll, respondents said they approved of government regulation of business by a margin of 55 percent to 45 percent, adds Teixeira.
So much for the myth that a majority of Americans support Republican policies about government regulation of banks and business. As Teixeira puts it, “Conservative claims that the public is embracing their antigovernment ideology should be taken with a grain of salt — in fact, a whole cellar full.”

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