The failure and rescue of Silicon Valley Bank left many questionsin its wake. How the collapse happened, whether it could mean recession, and how the public feels about big banks.
A Pew Research Center surveyfrom late 2022 took a look at how both parties saw banks and other financial institutions, even before the collapse. Overall, the survey found that public perception of banks and other financial institutions has become more negative compared to data from 2019.
Republicans who said banks have a positive effect on the state of the country have decreased by a quarter, while Democrats’ responses shifted by less than 5%. But more than half of everyone asked said banks have a negative effect.
Currently, it’s thought that poor investment and risky strategies led to the Silicon Valley Bank collapse. But probesinto how it happened, and how to prevent other banks from failing, continue.
