T R U S T Of Government Falls To Record Lows

Posted By on January 20, 2014

In the corporate world, Banks are the least trusted entity for the fourth year running…..that figures, dosen’t it!  Couldn’t happen to a better group of liers, cheaters and price fixers!  Oh, did we also say thieves?

Trust in governments continues to fall, making them the world’s least-trusted institutions for a third year in a row, according to a survey published before policy makers and executives gather for the World Economic Forum in Davos, Switzerland.

Faith in governments fell to 44 percent from 48 percent in 2013, according to the 2014 Trust Barometer survey published by Edelman, a public-relations firm. Trust in business held steady at about 58 percent, bringing its lead over government to the widest in the 14 years the poll has been taken.

Governments are struggling to maintain public trust amid the disclosure of U.S. spy programs by former contractor Edward Snowden and record unemployment in Europe. Confidence in government in the U.S. plummeted 16 points to 37 percent, Edelman said.

“This is a profound evolution in the landscape of trust from 2009 where business had to partner with government to regain trust, to today, where business must lead the debate for change,” Richard Edelman, the firm’s chairman and chief executive officer, said in a statement.

Trust in individual CEOs is at 43 percent, above the 36 percent score for individual government officials, according to the survey. Confidence in the media slipped 5 percentage points to 52 percent.

Banks and financial services were the least-trusted industries for the fourth year, scoring 51 percent, up 1 point from 2013, the survey shows. Technology companies topped the ranking again at 79 percent, up two percentage points from the previous year.

Sources: Wise Dog Research, Bloomberg, Special Report: 2014 World Economic Forum in Davos, Switzerland

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