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US: USA Today/Gallup on Financial Crisis


If you haven't seen it yet, this Gallup analysis of the latest USA Today/Gallup poll on the Wall Street crisis, conducted over the weekend, is a must-read. The poll...:

finds more Americans disapproving than approving of how most of the major national political players have handled the recent problems on Wall Street. Only Barack Obama squeaks by with more Americans approving than disapproving of his performance on the issue, 46% to 43%."

2008-09-29-Gallup crisis ratings.jpg

 

Comments
JoelR:

So the only one to get a better approval than disapproval is Obama. Is anyone surprised?

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KipTin:

Rasmussen poll: A Rasmussen Reports national telephone survey conducted Sunday found that 33% of Likely Voters now favor the plan while 32% are opposed and 35% are not sure.

For proponents of the legislation, that’s a significant improvement. On Friday, just 24% of voters had supported the plan while 50% were opposed
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zotz:

Concidering long term demographic trends I am beginning to realize that Bush could very well be the last Republican president. As the non-white % of the US pop. has grown there has been a white backlash against immigration that has mostly been confined to the Republican side. Bush's success with Hispanic voters in 2004 cannot be repeated because of the failure of comprehensive immigration reform. Concidering McCain's complete indifference to the economic concern's of the middle class and his transparent attempt to defend trickle-down economic theory by blaming the current crisis on scapegoats like Fannie Mae rather than the real culprits in both parties this campaign will be remembered as one of the major turning points in US history.

Republicans will first become a small reactionary party dominated by cultural conservatives like Sarah Palin. Moderate Republicans (RINOs) will disappear as the party becomes more radical. Economic conservatives will no longer be able to reconcile with the cultural conservatives and they will either form a new party or join the Libertarians like Barr and Ron Paul. This will be ugly. The Reps will scratch and claw all the way down and we have to prepare ourselves for violence as they get more and more desperate. We are at the start of a long struggle and we can't be certain where we will be at the conclusion.

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Uri:

I don't find it particularly surprising.

This may have been McCain's biggest mistake of the campaign: it was obvious that solving the crisis would involve a very expensive and painful and unpopular solution. By trying to "shove" himself into the process of passing such a solution, McCain became identified with it.

Voters don't value responsibility, they prefer the blame game.

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KipTin:

Interesting SurveyUSA poll for Washington State (lean Democrat):

Although SurveyUSA found Obama won debate in California (+10), McCain was up 2 points in Washington State. Debate watchers split on who they trust more on the economy.

http://www.surveyusa.com/client/PollReport.aspx?g=4e41a641-6f4e-4551-9394-c067418453c3

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boskop:

sadly, the people are falling prey to the greatest PR campaign since Jesus Christ.

for some reason the repubs are not biting back with the saul alinksy trained mockery and expert bully talk of the lanky pretty bully boy, barack. he deflects misinformation with grins and chummy nudge nudge wink wink classic ridicule tactics.

CRA (community reinvestment act)was invented by the clinton administration to promote lo income home ownership. the banks had to invest money in pro bono works to be able to trade comfortably with eachother.

the banks siphoned off the money to be managed so to speak by the likes of yes, ACORN at the same time that fannie and freddie also came under the wing of the gov.

ACORN ate up a fair amount of the CRA money, (ie stole it)and barack obama who was hired to defend them also became a teacher on how to get out the vote..

Barack Obama gave just under 1 million bucks siphoned from his campaign back to ACORN and purposefully hidden in his expenses to plump out the voter registration. they are in bed together and always have been/

but this is all too complicated for people/ all they need to know is that barney frank was the lead proponent of NOT OVERSEEING fannie and freddie when Mccain asked for regulations.

He and DOdd fought like mad men to un-encumber this rotten organization that absconded with money and gave enough money to its evil CEO's to pay for the down payments on god knows how many of the lo income people they were supposed to be helping/

but it takes two tango - lo income people do not have an entitlement to a big house. sorry. they have a right to a roof over their head adjusted to the level of their wages but not to fall into destitute heartless poverty.

it is never black or white but america better realize that mccain wanted to save them from these snake salesmen and BARNEY the Friends wanted the lies to go on and on.

now they want to cover their tracks. what a bunch of ****s.

maybe the sound bytes will emerge and eat off the cotton candy obama keeps selling and shoveling into our brains.

i cant wait now till he's president for your hosannas to turn to impeachment talk when he barrels into pakistan and Afghanistan, sinks our economy and starts to freak because he never was up to the job, only up to ears in hot air.

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Dave:

It makes sense, but to be honest, the Nobel prize winning economists who chimed in have far better ideas on how to save us from this republican bush/mccain/gramm mess than henry paulson does.

I say we go with their ideas rather than the bushies' ideas.

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KipTin:

Approval for Obama is most likely based on Obama not being directly involved in "bailout" and that he did not take a solid position. He played it safe.

I guess the Rasmussen poll (taken Sunday) needs explaining. More people are becoming accepting of the "bailout" and if that trend continues then the approval rating will go up for everyone else and Obama's will probably stay the same... split approve/disapprove.

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Mike_in_CA:

zotz,

your point makes sense, but instead of Bush being the last Republican president, he will be the last republican president OF THIS PARTICULAR REPUBLICAN MOLD. As demographics change, and the US moves left, Republicans will follow, and reshape their party. They won't disappear, they'll just change.

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KipTin:

The economic "mess" is best directed at the Democrats blocking reform of FannieMae and FreddieMac after their corrupt practices came to light... The Dems prevented more fed control because they did not want to restrict mortgages which would unfairly impact "affordable housing," i.e. lower incomes, lower or no downpayments, less credit-worthy. If you do not want to go that far, at least acknowledge that the FMs played a significant role.

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KipTin:

If you guys had been paying attention... McCain as GOP nominee already has started the move of Republicans back toward the center. This has been a long-term goal of his. So he wins even if he loses.

Whereas, Clinton had the Dems close to center, but the Obama nomination moved them further left. The primary was a context between the "idealists" led by Teddy Kennedy and the "pragmatists" led by Bill Clinton. The idealists won and they may very well have a President, but the one-party rule by idealist Democrats will not balance the budget or reduce the federal debt. They may very well be worst than the one-party GOP rule under Bush. "Change" may very well become "no change."

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NorseSoccer:

@KipTin

Re: Lack of federal control of Fannie/Freddie. Is your premise that we should vote for the Republican nominee if we want greater federal oversight? This makes no sense. One of the Republican party's major planks is free market deregulation.

Re: McCain as middle. I would have agreed with you in the spring. I liked McCain because he did seem able to find the middle. But once he named Sarah Palin as his running mate and re-embraced the right wing of his party ... I am finding it harder to see him reaching for the middle. You can't rail against liberals and Washington and play the blame game ... while at the same time say you're a consensus builder in the middle. Either you are able to see why half the country believes in Barack Obama ... or you can't.

This is why it is better than Barack can admit when he agrees with McCain and then move to where he disagrees.

That's how you build consensus and move back to the middle.

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faithhopelove:

PREVIEW OF THE WEEK AHEAD:

Today, McCain and Palin have a joint event in OH, after which Palin flies to AZ for debate prep. Biden is in debate prep now. The 2 VP candidates will be off the trail until Thursday's VP debate in the swing state of MO. Obama campaigns in CO today, where McCain has just released a new ad about clean coal. The ad is unlikely to help McCain there, as it opens by mispronouncing the name of the people who live there (it's not "Coloradoans," but "Coloradans").

On Tuesday, Obama campaigns in NV.

On Wednesday, Obama visits WI, and Michelle Obama visits CO. Bill Clinton campaigns for Obama in FL.

As for polls, SUSA has just released a FL poll showing McCain up 1 there. Rasmussen has 5 swing state polls (including FL) coming later today. PPP will have a FL poll tomorrow. With 3 FL polls in 2 days, the state of the race there may come into clear focus.

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RS:

So... if I get this right, according to some GOP folks on this site, the entire financial mess is the fault of people who should not have gotten loans they could not afford?

I thought the big institutions were facing a crisis of this magnitude because they ended up packaging and repackaging the mortgages to each other (completely unregulated), till all the investment bankers had multiple pieces of paper ("credit default swaps"), essentially bets, on whether a single mortgage would fail...

Yup, blame the people with mortgages, not the "smart" folks on Wall Street who are now getting $250/350/700 billion (including billions for CEO/executive bonuses, salaries and golden parachutes for their reckless gambling), presumably paid by the taxes of the people who got the mortgages in the first place. And many others like them.

I really hope enough House Republicans refuse to support the measure, and then we'll see what the Free Market does.

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s.b.:

So Obama does nothing but try to get a 20% kickback for ACORN earmarked on the bill and throw a fit when it's challenged in a closed door meeting called by the President and more Americans approve of that than anyone else? Gee i wonder if the MSM is protraying what people do and don't do in an unbiased an equitable manner?

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Trosen:

RS: It's become the new Fox News/Limbaugh party line. Blame the dark folks. Lovely isn't it? Mortgages were bought, sold, and packaged with a bunch of other junk that was seen as "high yield." The investment bankers didn't care if the actual mortgages would go into foreclosure or not. They barely held the title for an hour before selling it off, to more hands who would then do the same. and I love blaming Clinton and even invoking the name of Jimmy Carter! Right. Clinton and Carter were there with the CEOs of these firms urging the banks to loan to everyone and everyone with a pulse so they could flip them ASAP. You can only hide from reality for so long. I'm so sure that blaming the people in forclosure will go a long way toward the middle class vote. Keep it up..

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zotz:

Kiptin-
I think McCain wanted to take the party to the center but is he in control? It was the campaign that chose Palin. He wanted Lieberman but his staff vetoed it. Schmidt is the one running this campaign not McCain.
I agree with Krugman on the Fannie Mae issue.

"And then he found a new set of villains — Fannie Mae and Freddie Mac, the government-sponsored lenders. (Despite some real scandals at Fannie and Freddie, they played little role in causing the crisis: most of the really bad lending came from private loan originators.) And he moralistically accused other politicians, including Mr. Obama, of being under Fannie’s and Freddie’s financial influence; it turns out that a firm owned by his own campaign manager was being paid by Freddie until just last month."
http://www.nytimes.com/2008/09/29/opinion/29krugman.html?hp

McCain has a definate strategy (outlined by Kiptin) of blaming the crisis on evildoers rather than on the deregulation philosophy which is at the heart of Republican policy. I think Obama is going to tear this strategy to shreads in the next two debates.

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If you actually read the "must read" you will see that Obama's approval stems primarily from the larger number of Democrats in the adult population (yes, this is a poll of adults, not of registered or likely voters). Republicans are slightly less likely to approve of McCain and just slightly more likely to approve of Obama. The two split independents with 36% approving of Obama and 35% approving of McCain.

What's more important is how the crisis has framed the election towards domestic issues, not how either candidate has specifically 'won' the bailout crisis.

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PortlandRocks:

Wow the thugs are desperate today. Why is McCain such a weak candidate? 26 years and can't beat the new guy.

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KipTin:

Consider that McCain was one of the one's who co-sponsored a bill to reign in FreddieMac and FannieMae, whereas Obama and the Dems did nothing but obstruct that proposed regulation.

You may not like Palin's personal social values, but in her governance record she is near the center. Notably, the religious right was so happy with Palin, they gave McCain the freedom to campaign his way without having to further appease them.... and now McCain is being McCain.

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Ryan in MO:

obama up by 7 in pa

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Trosen:

Here as an excellent timeline with some SPECIFICS into the anatomy if this mess. A quick and easy read.

http://www.texaskaos.com/showDiary.do?diaryId=5397

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KipTin:

If FannieMae and FreddieMac were such minor players then why did the feds take them over? Downplaying their roles in the mortgage crisis is purposefully ignoring the obvious through Dem-tinted glasses.

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slinky:

zotz writes (with several misspellings):

McCain has a definite strategy (outlined by Kiptin) of blaming the crisis on evildoers rather than on the deregulation philosophy which is at the heart of Republican policy. I think Obama is going to tear this strategy to shreds in the next two debates.

This is correct! And, it's what I would do if I were in Obamas shoes. McCain can't defend against the truth, so he must lie.

I hope the American people are good lie detectors -- for all our sakes.

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KipTin:

That is the PA Morning Call tracking poll. Today shows 52% Democrats, 38% Republicans, and 10% Independent/Other. No age groups listed. A little lopsided even for PA.

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Mike_in_CA:

@KipTin:

According to the PA Secretary of State, PA is 51% Democrat and 38% Republican.

Looks like you just made a fool of yourself. I agree with the poster who said the Repubs really are desperate this morning.

http://www.dos.state.pa.us/elections/cwp/view.asp?A=1310&Q=446974

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macsuk:

After watching Palins's performance in Columbus with McCain I think Obama should stop going after the Jethro and Ellie Mae vote. All in all though it was pretty "doggone good".

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Trosen:

It's funny, it seems the last best hope for the McCain supporters here is to point out how these polls are skewed in favore of people identifying themselves as Democrats. (even in Rassmussen polls) What they fail to acknowledge though is the obvious trend that more and more people polled are identifying themselves as Democrat and less as Republican. Bad news for them any way you slice it.

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riverrun:

Gallup finds that after Obama, the guys seen to have done the best (or least bad?) job of handling the financial mess are the Democratic leaders in congress. Does this go some way to explain the sudden boost in polling support for Dem senate outsiders - eg in Kentucky and S Carolina? If so, expect some more surprises in Senate polls still to come.

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RS:

The House defeated the bailout bill... Sweet!
Now we'll see how laissez-faire plays out :-)

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I did a popularity comparison (using Google Insights for Search) of the main people involved in the bailout negotiations on my Word Face-Off blog. Interesting results that complement this post here!

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Zack:

Sadly once again neo-con talk radio has scared large numbers of people into working against their own interest. If yesterday's crash did not convince folks that the problem is real I don't know what will.
I hear folks saying the bill will amount to "socialism"... I don't think most of them know what socialism is...other than something Lush Dimbo calls things he does not like or understand.

If you are against this bill, try a reality check; LOG INTO YOUR 401k, IRA or, retirement account. I think you may "see the light" then. Name the "bail out" what you will, something like it must be done and the longer we wait the more damage is done. People seem to be taking the view that if we just wait things will fix themselves. They will not. WAKE UP... the nightmare is just starting.

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CluterTIm:

Dude I think you hit the nail on the head once again with an excellent post.

Jiff
www.FireMe.To/udi

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