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Harris Interactive’s annual “Reputation Quotient” survey for 2013 finds that the five biggest “too big to fail” (TBTF) U.S. banks have some of the lowest reputations in the country according to their survey of the general public. All five of them are ranked in the lowest eight slots among the sixty most visible companies measured.
The maximum “reputation quotient” is 100. Any quotient lower than 64 is considered to be “poor” and anything below 50 is considered “critical”. All of the big five TBTF banks scored lower than 64 and Goldman Sachs is below 50, so its reputation is in “critical” condition.
Bank of America and JP Morgan have seen some improvement in their score this year, but their reputation still falls into the “poor” range.
Harris Interactive also ranks industry reputations. The banking and financial services industries rank above only two other industries: government and tobacco. Banking and financial services have improved over last year, however, by seven and eight percentage points, respectively. Technology, travel and retail are the top three.
This poll has been published for fourteen consecutive years. This year, more than fourteen thousand interviews were conducted for data collection.
Bank Size (1 is the largest)
Harris Reputation Index
Sources:
FFIEC – Top 50 holding companies (HCs) as of 12/31/201
relbanks.com – The Largest US Banks
The Harris Poll 2013 RQ® Summary Report – A Survey of the U.S. General Public Using the Reputation Quotient® (This file is a PDF)
5 Comments
Thanks for reading.
I was reading this Harris poll and looking at the 60 most visible companies and their reputation rankings and thought, “well look at that”. There has been some other reporting on this poll but they all tend to talk about the most popular companies, how tech companies are some of the most popular, etc. I didn’t see anyone analyzing how our treasured TBTF banks rated. So I put some tables together and published this.
So despite all of the filters, people are able to figure this out, while the President and his staff, are unable to.
good work, thank you.
I am pretty sure that people of all political stripes have figured it out and have not forgotten. It’s one of the rare things on which there is unity in this country.
Well, it seems to be a feature, not a bug, and the DOJ is cool with sending (brown) guys to prison for decades for a joint, but the TBTF banks get harrumphed at. Sorry, been reaqding Yves Smith’s Econned, they are not just eating our lunch, they are eating *us*. But ya know, if anything happened to them, The World As We Know It would end! Umm, maybe it’s like saving the tyrannosaurs, when most of usw mammals might be OK with letting them go extinct.
thanks for this, joanneleon, and rec’d, of course.