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...institutions, faith in banks - on a scale of 1 to 5, where 1 denotes no trust and 5 complete confidence - fell from 2.95 to 2.8 in the first quarter of this year; trust in bankers slipped from 2.6 to 2.5. Things are even bleaker elsewhere. In a January ICM poll carried out across 17 of the world's leading economies - using a scale of 1 to 10 - public trust in the stability and solidity of banks came in at 4 in Germany, 4.2 in the U.K., and 5.1 in France. (See pictures of the global financial crisis...

Author: /time Magazine | Title: What Banks Are Still Missing: Trust | 5/4/2009 | See Source »

...Politicians, too, need to play a crucial role in restoring confidence, not least by letting us know when and why banks deserve it. There's a snag with that, though: our leaders' own levels of trustworthiness are depressed amid the global downturn. In that ICM poll, the rate of trust in the government to manage the financial crisis was just 4.5 in Britain, similar to the level in France but higher than that of Germany. In the U.S., where citizens were polled only days after President Obama's election, confidence was higher, at 6.3. (See pictures of Barack Obama...

Author: /time Magazine | Title: What Banks Are Still Missing: Trust | 5/4/2009 | See Source »

...Stressing independence from big business could boost a government's image. In the Chicago Booth/Kellogg School poll, 40% of Americans felt former U.S. Treasury Secretary Hank Paulson - previously the boss of Goldman Sachs - had been acting in the interests of the investment bank, and not America...

Author: /time Magazine | Title: What Banks Are Still Missing: Trust | 5/4/2009 | See Source »

...economy. In all, the Federal Government has cut refund checks totaling $259 billion - up 17% from a year ago and already the rough equal of total refund payments of $261 billion in 2008. More people than ever are using their refund to pay basic bills, according to an AP poll. For example, 31% said they were using their refund to pay credit card debt - up from 17% a year ago. The percentage using their refund to pay utility bills and rent or their mortgage has roughly doubled too. A slightly greater number say they will splurge...

Author: /time Magazine | Title: Ten Great Ways to Spend Your Tax Refund | 5/4/2009 | See Source »

...most egregious of these omissions is the fact that today’s GOP is but a phantom of its former self. According to a Washington Post-ABC News poll released on Apr. 26, while 35 percent of Americans identify themselves as Democratic and 38 percent as independent, only 21 percent of Americans currently identify themselves as Republican. Like some grotesque Russian-nested doll, the Republican coalition has been losing constituencies one by one, so that now only the most virulently reactionary elements of its base remain...

Author: By Dhruv K. Singhal | Title: Of the Right, Not Much Left | 5/3/2009 | See Source »

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