A recent survey conducted by The Reason Foundation has discovered that more Americans trust their banks than they trust their government. After all of the Occupy Wall Street and Tea Party movements we have seen over the course of past few years, people would rather turn to Cavalry Portfolio Services and US Bank instead of their nationally elected Senators and Congressmen. American’s have always been highly skeptical of those in power, but this shows that the trust in elected officials has reached a new low.
A total of 72 percent of Americans gave their banks favorable ratings while only 32 percent had a favorable view of the federal government. Participants believed that the government is responsible for getting us into the current economic crisis and do not want them to interfere too much about trying to fix it. They feel that the government can only screw things up more than they already have by sticking their noses into private enterprise and small business.
According to Daily Finance, the survey may be skewed because it was taken by an organization that is known for their hardline Libertarian and Conservative stances on virtually all economic issues. While they do stand to the right, the results were not skewed because President Obama was given a 49 percent approval rating while most conservatives bash his performance at any chance.
This shift in the public’s trust is probably due to the divisiveness of our government. People view the whole system as a convoluted mess and can not find any redeeming qualities in elected officials. While they do not trust Washington DC, the system will not change any time soon because most people have a favorable view of their own elected officials.
Banks on the other hand, work as a neatly oiled machine and are more than willing to help their customers at any given opportunity. Because they run on a for-profit model like an actual business, inefficiencies are eliminated at the first sign of a potential problem. Government simply does not have the same operating standards and has major problems when trying to accomplish tasks.
The next time you are in line at the bank and think you are having an inefficient experience, take a look at government run operations like the DMV or Department of Revenue offices. Banks may not be perfect, but they do excel at efficiency and customer service at a much higher level than government.