Beaver County Blue

Progressive Democrats of America – PA 12th CD Chapter

Archive for December 27th, 2011

The Banksters vs. the Rest of Us

Posted by carldavidson on December 27, 2011

Tale of Two Cities: GOP Tries to Convert

America’s ‘Bedford Falls’ Into ‘Pottersville’

By Leo Gerard
Beaver County Blue via HuffPost

In the iconic Christmas film, It’s a Wonderful Life, an angel offers the beleaguered main character, George Bailey, the stark choice between a hometown named for a cruel banker or one created by and for the middle class.

The banker’s town, Pottersville, is filled with bars, gambling dens and despair. The people’s town of Bedford Falls is made of hope, hard working middle class families, and their homes financed by the Bailey Brothers Building & Loan.

The film’s happy ending is the people of Bedford Falls banding together to rescue George Bailey and the Bailey Brothers Building & Loan that had given so many of them a leg up over the years. Republicans seek a different conclusion. They find middle class cooperation and community intolerable. They want the banker, Henry Potter, with his "every man for himself" philosophy to triumph. In the spirit of their self-centered mentor Ayn Rand, Republicans are trying to disfigure America so she resembles Pottersville.

A building and loan association, like the Bailey Brothers’, uses the savings of its members to provide mortgages to the depositors. Members essentially pool their money to give each other the opportunity to buy cars and homes. At one point in the film, George Bailey explains this concept to frightened depositors who are trying to withdraw their savings during the panic that led to bank runs in 1929.

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Posted in Banks, Community, Economy, GOP, Right Wing, unemployment | Leave a Comment »

 
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