The banking sector meltdown followed by the TARP bailouts and the quick return to profitability and big bonuses on Wall Street - all that seems to have done irreparable damage to the way Americans view the financial industry. Nearly half of those surveyed said they trusted financial institutions less now, according to a report from Edelman released last week.
Less than half of the respondents - 45 percent - said they still trusted national banks. Even fewer, just 43 percent, said they trusted brokerage firms. In a survey comparing trust in various business and governmental organizations, banks dropped from third on the list of most-trusted entities in 2008 to next to last this year.
Still, a majority of those surveyed acknowledged that they need help managing their money. The big question is: Who will they trust to do so?
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