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Researchers Find Lack of Trust in Leaders, Institutions is Major Factor in U.S. Economic Crisis
January 27, 2009As unemployment rates rise, the housing crisis deepens and 401Ks continue to deplete, it should come as no surprise that America's trust of its financial leaders and institutions has plummeted. To study the financial implications of eroding trust, Paola Sapienza (Kellogg School of Management at Northwestern University) and Luigi Zingales (University of Chicago Booth School of Business) have created the Chicago Booth/Kellogg School Financial Trust Index, publishing the first wave of results today. The accompanying research shows just how deep America's declining trust runs and how strongly it contributes to the country's financial problems. Full release