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To think about losing faith in the bank is a scary thought because I work for one. The first thought was that I would be
To think about losing faith in the bank is a scary thought because I work for one. The first thought was that I would be at risk of losing my job along with others, causing unemployment to rise and destabilizing the economy. Banks often invest in outside ventures that give back to communities and these would stop causing impoverished areas to go deeper into despair. Banks often take the money stored in savings to create loans for businesses. This would not be possible if people did not trust the bank, businesses would not be able to get a loan and may shut down. This causes further unemployment, less money being spent on goods and services, decreasing the money supply, and creating a recession. Thinking from a more individual household perspective, people would not be able to rely on banks to offer loans for vehicles or mortgages. Decreasing the housing market and automobile industry and once again lowering our economy's strength. Lastly, I feel the power of the US dollar would drop because there is much less global trade happening because there is no pass-through bank to act as an intermediary between the government and foreign trade markets
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