Americans polled say Wall St. curbs won’t work

By Associated Press
Posted June 21, 2010 at 3:54 p.m.

Americans aren’t convinced new Wall Street rules will prevent a future financial crisis.

An Associated Press-Gfk Poll finds that 64 percent of those surveyed aren’t confident that a financial regulation overhaul before Congress will prevent another meltdown.
The poll shows that Americans spread the blame widely: 8 in 10 blame banks for the crisis, while 7 in 10 blame the government. About 6 in 10 blame people who borrowed money that they couldn’t afford to repay, while less than a quarter blame President Barack Obama.

The legislation aims to prevent a financial collapse like that which happened in 2008. It would force regulators to watch for financial threats, set up new consumer protections and police previously unregulated financial products.

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