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The Harris Poll® #34, May 3, 2006
Majority of U.S. Adults Say Wall Street Benefits the Country
Though majorities also agree that Wall Street is dominated by
greed and only cares about making money
Almost three-quarters (73%) of U.S. adults say that Wall Street and what it
does benefits the country (22 percent say it benefits the country "a
lot", half (51%) say "somewhat"). This compares to less than
one-quarter (23%) who say it harms the country (17% say "somewhat", 6%
say "a lot"). This overall perception of Wall Street is slightly
better than it was three years ago, when 68 percent said it benefited the
country and only 16 percent said Wall Street harmed the country. Yet, it is
still down from the all-time high in 1997 when 80 percent of adults said Wall
Street benefited the country.
These are some of the results of a nationwide telephone survey conducted by
Harris Interactive® among 1,016 U.S. adults between April 4 and 10,
2006.
Seven in ten (71%) adults agree that Wall Street is essential because it
provides the money businesses must have for investments. This sentiment is up
from the 62 percent who agreed with this in 2003. Although many U.S. adults
acknowledge that Wall Street is essential, three in five (60%) do not agree
that, in general, what is good for Wall Street is good for the country. This
feeling is up 13 percentage points from 2003.
Almost two-thirds of adults (63%) agree that most people on Wall Street would
be willing to break the law if they believed they could make a lot of money and
get away with it, while 60 percent agree that Wall Street is dominated by greed
and selfishness. These numbers are each up nine percentage points from 2003.
This "it’s all about the money" attitude is extended as 59 percent
of adults agree that Wall Street only cares about making money and absolutely
nothing else, a rise of six percentage points from 2003.
When asked if they agree or disagree that in general, people on Wall Street
are as honest and moral as other people, over half (54%) of adults disagree,
while 41 percent agree. This theme continues, as 56 percent disagree that most
successful people on Wall Street deserve to make the kind of money they earn,
with only 40 percent agreeing.
TABLE 1
OVERALL IMPACT OF WALL STREET ON THE NATION
TRENDS 1996 TO 2006
"Overall, would you say that Wall Street and what it
does, benefits the country a lot, benefits it somewhat, harms it somewhat or
harms the country a lot?"
Base: All adults
| |
1996 |
1997 |
1998 |
1999 |
2000 |
2002 |
2003 |
2006 |
|
% |
% |
% |
% |
% |
% |
% |
% |
|
Benefits (Net) |
70 |
80 |
73 |
72 |
69 |
66 |
68 |
73 |
|
Benefits country a lot |
19 |
27 |
22 |
24 |
22 |
23 |
24 |
22 |
|
Benefits country somewhat
|
51 |
53 |
51 |
48 |
47 |
43 |
44 |
51 |
|
Harms (Net) |
22 |
13 |
19 |
15 |
16 |
24 |
16 |
23 |
|
Harms country somewhat |
16 |
10 |
16 |
11 |
13 |
17 |
11 |
17 |
|
Harms country a lot |
6 |
3 |
3 |
3 |
3 |
7 |
5 |
6 |
|
Neither benefits nor harms (vol.) |
1 |
2 |
2 |
3 |
2 |
3 |
2 |
1 |
|
Not sure/Refused |
7 |
5 |
6 |
10 |
13 |
7 |
13 |
4 |
Note: Percentages may not add up exactly to 100% due to rounding.
TABLE 2
AGREEMENT/DISAGREEMENT WITH SEVEN STATEMENTS ABOUT WALL STREET
– TRENDS
"Please say if you tend to agree or disagree with the
following statements about Wall Street."
Base: All adults
| |
|
|
Agree |
Disagree |
Not Sure/
Refused |
|
Wall Street is absolutely essential because it provides the money
business must have for investments |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
71
62
66
72
69
73
69
69 |
25
24
26
21
23
24
27
25 |
4
13
8
8
7
3
4
6 |
|
Most people on Wall Street would be willing to break the law if they
believed they could make a lot of money and get away with it |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
63
54
61
60
60
56
56
64 |
35
34
34
33
34
41
40
33 |
3
11
5
6
7
2
4
3 |
|
Wall Street is dominated by greed and selfishness |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
60
51
57
52
51
55
52
61 |
37
36
37
39
41
41
43
34 |
3
13
7
9
8
4
4
4 |
Note: Percentages may not add up exactly to 100% due to rounding.
TABLE 2 (CONT.)
AGREEMENT/DISAGREEMENT WITH SEVEN STATEMENTS ABOUT WALL STREET
– TRENDS
"Please say if you tend to agree or disagree with the
following statements about Wall Street."
Base: All adults
| |
|
|
Agree |
Disagree |
Not Sure/
Refused |
|
Wall Street only cares about making money and absolutely nothing else |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
59
53
56
57
56
57
48
57 |
38
35
40
36
37
39
48
39 |
3
12
4
6
7
4
3
4 |
|
In general people on Wall Street are as honest and moral as other
people |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
41
35
35
35
39
49
51
43 |
54
50
57
56
51
47
45
52 |
4
15
8
9
10
5
4
5 |
|
Most successful people on Wall Street deserve to make the kind of money
they earn |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
40
37
36
42
45
48
51
40 |
56
51
58
50
46
47
44
55 |
4
12
6
8
9
4
4
5 |
|
In general what is good for Wall Street is good for the country* |
2006
2003
2002
2000
1999
1998
1997
1996 |
%
%
%
%
%
%
%
% |
37
39
40
41
42
43
39
N/A |
60
47
55
52
51
53
57
N/A |
3
13
6
8
6
4
4
N/A |
* Not asked in 1996
Note: Percentages may not add up exactly to 100% due to rounding.
Methodology
The Harris Poll® was conducted by telephone within the United
States between April 4 and 10, 2006 among a nationwide cross section of 1,016
adults (aged 18 and over). Figures for age, sex, race, education, and region
were weighted where necessary to align them with their actual proportions in the
population.
All surveys are subject to several sources of error. These include: sampling
error (because only a sample of a population is interviewed); measurement error
due to question wording and/or question order, deliberately or unintentionally
inaccurate responses, nonresponse (including refusals), interviewer effects
(when live interviewers are used) and weighting.
With one exception (sampling error) the magnitude of the errors that result
cannot be estimated. There is, therefore, no way to calculate a finite
"margin of error" for any survey and the use of these words should be
avoided.
With pure probability samples, with 100 percent response rates, it is
possible to calculate the probability that the sampling error (but not other
sources of error) is not greater than some number. With a pure probability
sample of 1,016 adults one could say with a 95 percent probability that the
overall results have a sampling error of +/- 3 percentage points. However that
does not take other sources of error into account.
These statements conform to the principles of disclosure of the National
Council on Public Polls.
J27129A
Q609, 611
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