50% Favor Breaking Up Nation’s Largest Banks
Thursday, March 21, 2013
A Senate report released this month revealed that the nation’s largest bank, JP Morgan Chase, manipulated and withheld key information during its record trading losses last year, prompting even stronger belief that the big banks haven’t learned their lesson after receiving government bailouts in 2008. Most Americans want to end government subsidies for these ‘too big to fail’ institutions and half want to see those megabanks broken up.
A new Rasmussen Reports national telephone survey shows that 50% of U.S. Adults favor a plan to break up the 12 megabanks, which currently control about 69% of the banking industry. Twenty-three percent (23%) oppose breaking up the largest banks, while another 27% are undecided. (To see survey question wording, click here.)
The survey of 1,000 Adults nationwide was conducted on March 15-16, 2013 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. Seemethodology.