Thursday, October 20, 2011

Less than 1 in 4 have faith in financial institutions

According to the Chicago Booth/Kellogg School Financial Trust Index, 23% of people surveyed trusted US financial institutions.
What do the bottom 22% of those people not get?
Trust in banks has experienced an even steeper decline, falling from 39% in June to 33% in October. Notably, people were much more inclined to trust local banks and credit unions: More than half of those surveyed said they still had faith in those institutions.

The survey also revealed that nearly 60% of respondents were either angry or very angry about the current economic situation -- the highest level of anger measured since the earliest months of the financial crisis.
-Daily Finance

And that is why tent cities are springing up everywhere.