I still think it's a wonderful life

I can't watch any part of "It's a Wonderful Life" without crying, and that clip is no exception. It is simply one of the most perfect movies, ever.

 

I thought of that scene while watching CNN and hearing all the breaking news when it comes to the current economic situation. I'm no economist, and I don't understand all the nuances of the problem, but I don't think the situation is similar to what happened during the Depression. However, if I recall correctly, FDIC came out of the Depression, as part of the federal government insuring the funds that are deposited in banks. In that way, this is somewhat similar, because the government is going to have to step in to ensure that people's funds and savings and investments are protected, and that their ability to borrow is not severely diminished. That is important so that companies and corporations can continue to drive the economy and add jobs. If it's next to impossible to get a business loan, you can forget about any expansion or recovery any time soon. That's the way I understand it, but again, I'm no Econ guru!

 

Apparently there have been protests going on today, people saying that they don't want this bailout, not with their tax dollars. I think we're past that point now...that there must be a bailout--or more correctly, a loan--or else we ain't seen nothin' yet. (There may be alternatives, which is being discussed right now.) I don't like it, either, and frankly, I'm pissed off that it has gotten to this point. Ken and I try to be good stewards of our finances, and it's dismaying and irritating to see these companies play fast and loose with these funds. Heads will eventually roll, and the FBI is already investigating. I'm also pissed off that the next President is going to be hamstrung when it comes to doing most of the things that need to be done: addressing our infrastructure, creating new energy technologies, improving our education and health insurance systems...you know the drill. This huge debt is going to mean that none of that can be addressed in the coming years. That makes me angry. I think this proves once and for all that deregulation doesn't work all that well. I'm all for a free market, but there must be guidelines in place so that excessive greed does not continue to get us into messes like this. The greed isn't going to go away--human nature and all that--so we need to ensure that we are keeping an eye on the people who are bankrolling our endeavors.

 

To borrow a phrase from my pal Wes, it is what it is. We're stuck with this, like it or not, and each and every one of us is part of the bailout. Like it or not. Someone wondered if I "get it" that the economy is about to tank. Yes, I do get it. But I think it will recover. And yes, I think the debates are more important than ever. Time's a-wasting, and we're getting closer and closer to choosing the person who is going to get us through this mess in the coming years...and it WILL be a matter of years. This is not a quick fix. We must choose wisely, and there are millions of voters who are still undecided. George Bailey says in the bank scene, "We can get through this all right...but we've got to stick together...we've got to have faith in each other." Timely words.

 

Tags: bailout, financial crisis, It's a Wonderful Life, George Bailey