Pros Feel the Pain
Oct 22 2008
PREV
View of the financial sector…
7. Thinking specifically about the economic climate for companies in the financial sector—is it the best that you have experienced, above average, average, below average, or the worst that you have experienced?
| Best | 1 |
| Above average | 5 |
| Average | 8 |
| Below average | 37 |
| Worst | 49 |
8. Do you think the financial sector is in a state of crisis today, or do you feel it is facing serious problems but is NOT in a state of crisis?
| Yes, the financial sector is in a state of crisis | 77 |
| No, the financial sector is NOT in a state of crisis | 23 |
9. Thinking about the next year or so, how you would describe your outlook for companies in the financial sector—very optimistic, somewhat optimistic, uncertain, somewhat pessimistic, or very pessimistic?
| Very optimistic | 4 |
| Somewhat optimistic | 21 |
| Uncertain | 32 |
| Somewhat pessimistic | 32 |
| Very pessimistic | 11 |
10. And, in the longer term, thinking about the next three to five years, how would you describe your outlook for companies in the financial sector—very optimistic, somewhat optimistic, uncertain, somewhat pessimistic, or very pessimistic?
| Very optimistic | 14 |
| Somewhat optimistic | 48 |
| Uncertain | 27 |
| Somewhat pessimistic | 9 |
| Very pessimistic | 2 |
11. How long do you think it will take companies in the financial sector in the United States to return to what you would consider strong condition?
| Already in strong condition | 1 |
| One year | 5 |
| Two years | 21 |
| Three to five years | 53 |
| Six to 10 years | 19 |
| Longer than that | 1 |
| Never | - |
12. Which one or two of the following do you blame the most for causing the problems facing the financial sector today?
THIS TABLE HAS BEEN RANKED BY THE HIGHEST PERCENTAGE
| Irresponsible lending by mortgage companies | 51 |
| Poor business decisions by many financial firms | 33 |
| Irresponsible borrowing by subprime consumers | 28 |
| A general culture of greed in our country | 22 |
| Inadequate government regulation | 20 |
| Unsustainable speculation by purchasers in the housing market | 17 |
| Poor business decisions by just a few financial firms | 8 |
| Excessive government regulation | 4 |
| Negative media coverage | 4 |
| Economic forces beyond anyone's control | 2 |
13. Which one or two of the following do you blame the least for causing the problems facing the financial sector today?
THIS TABLE HAS BEEN RANKED BY THE HIGHEST PERCENTAGE
| Economic forces beyond anyone's control | 43 |
| Excessive government regulation | 38 |
| Negative media coverage | 38 |
| Inadequate government regulation | 18 |
| A general culture of greed in our country | 13 |
| Poor business decisions by a few financial firms | 8 |
| Irresponsible borrowing by subprime consumers | 7 |
| Poor business decisions by many financial firms | 5 |
| Unsustainable speculation by purchasers in the housing market | 4 |
| Irresponsible lending by mortgage companies | 2 |
14a. Looking back over the past few weeks, do you think recent actions of the government to deal with the problems of the financial sector have gone too far, have not gone far enough, or have struck the right balance?
| Gone too far | 30 |
| Not gone far enough | 40 |
| Struck the right balance | 30 |
14b. Why do you think the recent actions of the federal government have gone too far? What has the federal government done that it should not have?
| Rewarding companies/C.E.O.'s for bad decisions | 26 |
| Should not have passed the bailout, against the plan | 20 |
| Should let market correct itself, let some companies fail | 16 |
| Government should not be involved in the private sector | 15 |
| Bailout won't work, will create more problems in the long run | 9 |
| Should not use taxpayer money, too much risk for taxpayers | 8 |
| Government is to blame, created laws that caused the crisis | 6 |
| Rewarding individuals/borrowers for bad decision | 6 |
| Don't know, no response | 2 |
14c. Why do you think the recent actions of the federal government have not gone far enough? What should the federal government have done that it did not do?
| Should have acted sooner, waited too long to act | 24 |
| Should have added more regulation/oversight/transparency of financial mortgage industries | 15 |
| Protect consumers/homeowners more, help them keep their homes | 6 |
| Need to develop a plan, bring stability, fix the problems | 6 |
| More accountability needed, hold executives/politicians responsible, get your taxpayer money back | 5 |
| Cut interest rates, lower the federal funds rate | 4 |
| All others | 19 |
| Don't know, no response | 7 |
15. Please indicate for each of the following how likely you think this change is to occur over the next few years—very likely, somewhat likely, somewhat unlikely, or very unlikely?
THIS TABLE HAS BEEN RANKED BY THE PERCENTAGE WHO SAY VERY LIKELY
| Very Likely | Somewhat Likely | Somewhat Unlikely | Very Unlikely | |
| Harder for high-risk deals or transactions to be approved | 63 | 31 | 5 | 1 |
| Continued market consolidation in the financial sector, with fewer and larger companies | 62 | 33 | 5 | - |
| Harder for consumers to qualify for personal loans | 47 | 43 | 9 | 1 |
| Harder for companies to qualify for commercial loans | 31 | 55 | 13 | 1 |
| Increased involvement by corporate boards in the management of companies | 23 | 56 | 19 | 2 |
| Reduced pay for senior management | 19 | 43 | 28 | 10 |
| Pay will be linked to overall company performance rather than individual performance | 17 | 49 | 30 | 4 |
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