In God We Trust: banks and their errors
Bank failures are caused by depositors who don’t deposit enough money to cover losses due to mismanagement.
‘In God We Trust’ is the motto on US coins and notes. It first appeared on the currency at a time of national crisis, the American Civil War. The war ended, but the appeal to God and trust remained. Behind the assertion is a belief that with trust, adversity can be overcome. It is a brave phrase to place so openly on currency. I presume the motto on the dollar bill implies that a failure of a bank is a failure of trust and not a failure of God. The continued use of the motto does highlight the permanent fragility of money and through money perhaps the fragility of the society that ...