On March 10, 2023, Silicon Valley Bank failed and was taken into receivership. While there has been a great deal of discussion about this in the news and online, much of what has been said has been has either been completely false or misleading, particularly the claim that taxpayers will not bear the cost of the bailout.
In this episode, we briefly discuss bank runs and how they happen in general before shifting our focus to the details of how Silicon Valley Bank was taken into receivership. We review the banking crisis in 2008 and how it set the stage for this current event and talk about how past decisions have effectively removed the obligation from those who are wealthy to be conscientious about where they put their money.
As always, the fundamental focus is on how these issues are driven by scriptural issues. Because the church does not speak to the nature of God's justice and what God requires of man it is not surprising that's the world has forgotten to fear God. The answer is for the church to repent.
Thumbnail image by Tony Webster under Creative Commons
Production of Reformation Baptist Church of Youngsville, NC
Hosts - Dan Horn, Jonathan Sides, Charles Churchill and Joshua Horn
Technical Director - Timothy Kaiser
Theme Music - Gabriel Hudelson