by Pam Martens and Russ Martens, Wall St On Parade:

The polling organization, Gallup, conducted a survey between June 1-22 to update its annual poll that measures the confidence that Americans have in key U.S. institutions. Banks, as might be expected, continued their downward trend, registering an abysmal 26 percent of Americans who have “a great deal” or “fair amount” of confidence in the banks. That confidence ranking stood at 27 percent last year and at 33 percent in 2021.

It is actually somewhat baffling that confidence in banks only dropped by one percentage point from last year, given that the second, third and fourth largest bank failures in U.S. history occurred in the first half of this year.