US voters split on bailout, most doubt Congress can fix crisis



New York (Platts)--22Sep2008

As the national financial crisis gripping both Wall Street and Main
Street moves into the halls of the US Congress this week, American voters are
divided on support for the government rescue plan that some say could cost as
much at $1 trillion, a new Zogby Interactive survey shows. The poll, taken
Friday and Saturday after the crisis had reached full boil, showed 46% support
the bailout, and 46% opposed it. Of those surveyed, 8% were unsure.

There is little debate, however, that the problem facing the US financial
system, caused in large part by a failure of the sub-prime mortgage industry,
poses a long-term threat -- a statement agreed to by 70% of those surveyed.
Just 24% viewed the situation as a small problem posing only short-term
difficulty.

Further, a dramatic 84% believed that other investment banks and major US
corporations will fail in the coming weeks and months, while just 9% said they
thought the problem had hit bottom, Zogby said.

The online survey included 2,331 likely voters across the US, and was
conducted September 19-20. It carries a margin of error of +/- 2.1 percentage
points.

Perhaps a reflection of the widespread distrust with which voters
currently view Washington, nearly two out of three likely voters in the Zogby
survey blamed government entities, led by the White House, for causing the
problem. Asked who is most to blame, 27% said the Bush administration, while
20% blamed Congress. By contrast, just 12% blamed investment banks, and 17%
blamed mortgage brokers.

Just 38% of likely voters have confidence that leaders in Washington will
be able to solve this crisis, while 58% said they have little or no confidence
in these leaders. The survey also showed that 83% of likely voters want those
responsible for the unsound lending and investment practices that led to this
crisis to be held "criminally responsible," while 14% said they wouldn't agree
with that. "But these voters are not holding their breath for that to happen,"
noted the survey results. "Just 37% said they think those responsible will be
held accountable, while 60% said they do not think those responsible will be
held responsible."

OBAMA SEEN AS BETTER AT HANDLING FINANCIAL CRISIS

In the survey, Democrat Barack Obama holds a small edge over Republican
John McCain in dealing with the financial crisis. Of those surveyed, 46% said
Obama is best-equipped to deal with the financial crisis, compared to 41% who
said McCain is best suited. Another 13% said they were unsure on the question.

Zogby's latest presidential-election poll results have the Obama/Biden
ticket with 47% of voters, slightly ahead of the McCain/Palin ticket with 44%.
Some 9% surveyed were undecided.

Democrats were seen as much better regulators of the mortgage and real
estate industries -- 42% said Democrats would be better regulators than
Republicans, while 25% contended the GOP is better at regulation.

Likely voters said they favor strict new regulations governing the
mortgage industry to prevent such problems as the sub-prime mortgage meltdown
from happening again. Nearly three out of four -- 71% -- said they favor
tougher mortgage lending regulations, even if it means fewer people will be
able to buy a home. Twenty-three percent disagreed that such new regulations
should be put in place.