{"id":9740,"date":"2023-03-28T08:03:43","date_gmt":"2023-03-28T13:03:43","guid":{"rendered":"https:\/\/blogs.elca.org\/faithlens\/?p=9740"},"modified":"2023-03-22T15:52:19","modified_gmt":"2023-03-22T20:52:19","slug":"april-2-2023","status":"publish","type":"post","link":"https:\/\/blogs.elca.org\/faithlens\/april-2-2023\/","title":{"rendered":"April 2, 2023–Broken Trust"},"content":{"rendered":"

Amy Martinell, Sioux Falls, SD<\/b><\/p>\n

Warm-up Questions<\/b><\/h4>\n

\"\"<\/a><\/p>\n

Who is someone you completely trust? What organizations (school, clubs, health system, etc.) do you trust? What organizations do you not trust?\u00a0 Is it easier to trust people or organizations?<\/p>\n

Broken Trust<\/b><\/h4>\n

The last few weeks have brought worry and panic to the banking world. The panic began with the sudden collapses of Silicon Valley Bank and Signature Bank over a three-day span. These bank closures led anxious customers to withdraw their money from other smaller regional banks and place it with bigger institutions that are better capitalized.<\/p>\n

These smaller banks then had to scramble to have enough money to cover the withdrawals. Many banks sought emergency loans from the Federal Reserve. Some of these banks then saw significant drops in their stock and credit rating. This problem is not limited to the US. Credit Suisse, Switzerland\u2019s second largest bank, was bought out by UBS, Switzerland\u2019s largest bank, in order to prevent a collapse.<\/p>\n

All of this action leads to concern about global and personal finances and worry that we are headed into a prolonged recession. While Global financial regulators state that the banking system is secure and healthy, many cannot help but wonder.<\/p>\n

Discussion Questions<\/b><\/h4>\n