The Poll Archive RSS

issues_economy
(12/23/09) -

Americans Agree with Obama on Wall Street

(Angus Reid Global Monitor) – Many people in the United States believe Barack Obama was right when he referred to Wall Street bankers as "fat cats", according to a poll by Angus Reid Public Opinion. 83 per cent of respondents agree with their president.

(Angus Reid Global Monitor) – Many people in the United States believe Barack Obama was right when he referred to Wall Street bankers as "fat cats", according to a poll by Angus Reid Public Opinion. 83 per cent of respondents agree with their president.

Since 2007, defaults on so-called subprime mortgages—credit given to high-risk borrowers—in the U.S. caused volatility in domestic and global financial markets and ultimately pushed the U.S. economy into a recession. A recession is defined as two consecutive quarters of negative growth. The crisis has affected the global financial and credit systems, and triggered layoffs in companies around the world.

In 2008, the U.S. government took control of mortgage lenders Fannie Mae and Freddie Mac. Other financial institutions—including Bear Stearns, Merril Lynch, Lehman Brothers, American International Group (AIG), IndyMac Bancorp and Washington Mutual—have been sold, placed under bankruptcy protection, or received emergency loans from the Federal Reserve. On Sept. 15, the stock market plummeted in North America, Europe and Asia.

In American elections, candidates require 270 votes in the Electoral College to win the White House. In November 2008, Democratic nominee Obama secured a majority of electoral votes, defeating McCain. In January, Obama became the first African American president in U.S. history.

Earlier this month, Obama expressed dissatisfaction with the current state of affairs, saying, "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street. (…) [Bankers] are drawing down $10, 20 million bonuses after America went through the worst economic year that it’s gone through in decades and you guys caused the problem."

Polling Data

We would now like for you to take a moment to watch a video. Please click on the link to watch the video in a new window. We’ll then ask you a few questions. 

To respondents who watched the video: Do you agree or disagree with President Obama referring to Wall Street bankers as "fat cats"?

Agree

83%

Disagree

13%

Not sure

4%

Source: Angus Reid Public Opinion
Methodology: Online interviews with 1,002 American adults, conducted on Dec. 17 and Dec. 18, 2009. Margin of error is 3.1 per cent.

Complete Poll (PDF)