Here are some more poll numbers released by Rasmussen Reports -- "an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information."
76% Oppose Federal Bailout of Ailing Life Insurance Companies
Friday, April 10, 2009
Add one more government bailout to the list opposed by most Americans.
Seventy-six percent (76%) of adults say "no" to using federal funds to bail out troubled life insurance companies, according to a new Rasmussen Reports national telephone survey.
Just 12% favor the idea, and another 12% are not sure.
Investors (80%) are even more strongly opposed.
There's little partisan disagreement on this either. Eighty-three percent (83%) of Republicans, 71% of Democrats and 77% of adults not affiliated with either party oppose a bailout for ailing life insurers.
But given official Washington's tendency to go ahead with bailouts despite voter opposition, 62% of Americans believe life insurance companies that receive taxpayer funds to stay in business should lower their rates to customers. Twenty percent (20%) disagree.
Sixty percent (60%) also think the federal government should regulate executive pay and bonuses at all bailed-out life insurance companies, although 26% are opposed.
Two weeks ago , 61% said the government should regulate the level of pay and bonuses for executives of any company that receives government funding, but most agree the government should keep its hands off compensation if no taxpayer money is involved.
Just 17% think the companies will operate better if they are run by the federal government, while 62% disagree. Similarly, only 14% believe the federal government would do a better job running auto companies , and 11% say the government would do a better job running a financial institution . .
That helps explain why Americans are almost evenly divided over whether the government should set the rates charged by life insurance companies that receive a taxpayer bailout. Thirty-nine percent (39%) say the government should set the rates; 41% think that's a bad idea.
The Wall Street Journal first reported this week that the Treasury Department is planning to offer bailout money under the already-approved Troubled Asset Relief Program (TARP) to struggling life insurance companies. A dozen insurers, including MetLife and Prudential Financial, already have applied for the money.
It is unclear whether the government will take a tougher line with the management of these companies as it has with General Motors as opposed to the more hands-off approach it has taken with the financial sector.
Following the Obama administration's recent decision to force Rick Wagoner out as head of GM, Americans are now less supportive of having the government push senior managers out the door .
Democrats (72%) are more likely than Republicans (47%) and unaffiliateds (60%) to favor government regulation of executive compensation at bailed-out life insurance companies. Sixty-one percent (61%) of investors are opposed.
Most Republicans (55%), Democrats (69%) and unaffiliated Americans (60%) agree that life insurance companies that receive taxpayer bailouts should lower their rates to customers.
But again there are marked differences when Americans are asked if the government should set the rates charged by bailed-out life insurers. Fifty-three percent (53%) of Republicans say no, while a plurality of Democrats (47%) says yes. Among unaffiliateds, 37% think the government should set the insurers' rates while 45% are opposed.
Americans have consistently opposed government bailouts regardless of the beneficiary . Most, in fact, think bailout money is going to the very people who created the country's current economic crisis .
Just 53% of Americans now think capitalism is better than socialism , however.
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To view a copy of the original report, please use this link: Die Life Insurance Companies, Die!