Survey: Trust in leaders has fallen
Public trust in business, government and media leaders has fallen in the wake of financial and political scandals, according to a new global survey.
Heads of financial institutions did particularly poorly, mainly in richer countries that have suffered financial crises and fined banks for, among other things, manipulating markets and facilitating money-laundering.
The 2013 edition of the annual Edelman Trust Barometer found “a very significant crisis of leadership,” said Richard Edelman, president and CEO of Chicago-based public relations firm Edelman. “Leaders are just not seen as leading.”
A big problem is that people think their leaders “just can’t get around to telling them the truth,” he said.
As a result, people are increasingly looking to other sources of information for the straight story about what’s going on, such as academic experts or even their peers through social media and the Internet.
Debt-talk hopes buoy world markets
Hopes that U.S. politicians will be able to reach a deal on raising the government’s debt limit, avoiding the risk of a disastrous default, supported global markets Monday, when Wall Street remained closed for Martin Luther King Jr. Day.
Congress must agree by the end of February to increase the limit on how much the U.S. can borrow so the government can service its debt. If it doesn’t, the country could default, which would deal a heavy blow to global financial markets and undermine confidence in the world’s largest economy.
The Republicans appear ready to raise the debt ceiling temporarily and also have backed away from their insistence on deep spending concessions in exchange for a deal. The signs of compromise encouraged investors to buy into stock indexes, many of which are near multiyear highs.
From wire reports