Confidence in the U.S. banking system has fallen again despite billions in federal bailout funds and record profits being declared by two of Wall Street’s top financial firms.

A new Rasmussen Reports national telephone survey finds that 43% of Americans are now at least somewhat confident in the the stability of the U.S. banking system, down five points from 48% in April. In early February, just 39% felt that way.

Only nine percent (9%) of adults are very confident in the banking system, but that’s up slightly from the two previous surveys.

However, the majority of Americans (51%) lack confidence in the stability of the banking system. This compares with 46% in April and 57% in February. Forty percent (40%) now are not very confident and 11% are not at all confident, the latter figure roughly comparable to both previous surveys.

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A year ago, two months before the before the Wall Street meltdown hit the nation’s front pages, 68% of Americans were confident in the stability of the nation’s banking system, despite the Treasury secretary’s warning of increasing bank failures. Just 28% did not have confidence in the system.

Men are less confident than women. Younger Americans are more skeptical than their elders. Investors are slightly more confident in the banking system than non-investors.

Thirteen percent (13%) of Republicans are very confident versus eight percent (8%) of Democrats and six percent (6%) of adults not affiliated with either party.

Goldman Sachs and JPMorgan Chase posted record second quarter profits after receiving billions of federal bailout dollars and benefiting from cheap government financing. Eighty percent (80%) of Americans now say Wall Street benefited more from the bailout of the financial industry than the average U.S. taxpayer. This view is up from 63% last October.

Forty-seven percent (47%) of Americans oppose more government regulation of the U.S. financial system as President Obama has proposed, but 33% disagree and favor more regulation.

Looking back, 59% of voters nationwide believe the federal bailouts for banks and other financial institutions were a bad idea. This finding has been largely unchanged since bailouts were first proposed last September.

Most American (54%) still blame President George W. Bush for the nation’s economic problems, while 39% say Obama’s policies are at fault.

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