Bailout rewards bad behavior - poll

Eight out of ten say the economy could deteriorate further if government action is not taken, according to poll, but similar percent also worry bailout rewards bad behavior.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Kenneth Musante, CNNMoney.com staff writer

What should Congress do with the $700 billion proposal to take pressure off the credit markets?
  • Pass the legislation quickly
  • Pass it, but add stimulus and foreclosure relief
  • Reject it

NEW YORK (CNNMoney.com) -- As the White House and Congress hammer out the details of a rescue plan for embattled financial institutions, Americans worry that it may reward bad behavior but they also fear that doing nothing may hurt the economy, according to a poll released Tuesday.

In a CNN/Opinion Research poll, 79% of 1,020 respondents said they were worried that the economy could get worse if the government takes no action.

However, 77% also said they believed that a government bail-out would benefit those responsible for the economic downturn in the first place. The poll was taken on Sept. 19-21 and had a margin of error of plus or minus 3 percentage points.

The Bush administration, under the guidance of Treasury Secretary Henry Paulson, has proposed that the federal government buy up approximately $700 billion in problematic assets from financial institutions in order to give them the liquidity they need to stay afloat.

Democratic lawmakers have pushed for a number of additions to the bill, including additional oversight, protections for homeowners and caps on executive compensation.

According to the CNN poll, fully half of respondents said there is too little regulation of the stock market and financial institutions.

The two presidential candidates, Democrat Barack Obama and Republican John McCain have also said there needs to be more government oversight of the bailout plan.

Through it all, Americans remain optimistic. While a great majority said they believed the economy was struggling, according to the poll, more than two-thirds said they thought the economy would be in good shape a year from now. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
2015 Mustang's asphalt-peeling power goes modern The new Ford Mustang has been upgraded and updated to compete globally - but never fear, it's still a monster. More
15 top executives with $1 salaries Some CEOs and founders agree to salaries of just $1 a year. But once goodies like bonuses and stock options are added in, some of those executives end up taking home many millions of dollars a year. More
Mercedes SL65 AMG: 621 horses of topless power Turn heads as you blow by traffic in this roadster convertible from Mercedes. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.