Archive for the ‘government intervention’ Category

Most Americans favor government intervention in economy

December 11, 2008
Sixty percent of those surveyed back assistance for homeowners facing foreclosure, and 64% favor tighter regulation of financial institutions. But lukewarm support is shown for helping carmakers.
By David Pierson
The Los Angeles Times
December 11, 2008
Linda Forest cringes when she thinks about the millions of dollars corporate chief executives earn. She believes greed is to blame for the nation’s economic crisis.
So the third-grade teacher from DeSoto, Texas, believes the pendulum needs to swing away from a less-regulated business environment to one with more government intervention and oversight to lift the country out of its morass.
She is among the majority of Americans who favor the idea of Washington stepping in to prevent any further collapse of the nation’s economy, according to a Los Angeles Times/Bloomberg poll.
“I’m hesitant to get government involved,” said Forest, 46, who was contacted in a follow-up interview. “But I do know there needs to be intervention. They need to do it with a watchful eye.”
The survey of 1,000 adults was taken Saturday through Monday and has a margin of sampling error of plus or minus 3 percentage points. The poll showed that most of those surveyed favored increasing government intervention in the economy, and half blamed lack of regulation for many of the nation’s current woes. ¶ About two-thirds back tighter regulation of banks and financial institutions, and half said the federal government should take an ownership stake in banks and other industries to save the private sector.

Asked whether such moves would constitute a step toward socialism, about half said yes, but just 20% said that this worried them “a lot.”

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