Greece is no Wonderful Life

Since the emergence of the politically correct system that took over our schools 30 years ago, I’ve a feeling many younger readers have no idea what the term “run on the bank” means.

My kids know, because of our devotion to the movie “It’s a Wonderful Life.”

Jimmy Stewart–George Bailey in the film, has an uncle who misplaced a giant wad of cash that was supposed to be on deposit for their Building and Loan–basically a Credit Union.

The owner of the big bank in town, Mr. Potter, steals the money that uncle Billy loses, then, to make matters worse, starts a rumor that the Building and Loan is ready to collapse.

Thus a run on the bank occurs where all the depositors rush to the teller windows hoping to withdraw what’s theirs before the Savings and Loan goes bust.

Banks never have all the money you and your neighbors have on deposit.  It’s loaned out to worthy creditors earning interest, or invested in bonds.

Good institutions calculate how much they need in reserve, in case of heavy withdrawals, but even the largest banks in the country could never survive a true “run.”

Thanks to George’s power of persuasion, Bailey’s Building and Loan survives the day and the story takes off from there.

George even contemplates jumping off a bridge so that his life insurance benefits can save his family and friends.

Suicide is never a good answer for anything, but sacrifice is the only answer for Greece, Europe and very soon America.

Those who think a run on the bank can’t happen here need only to find real history books, not those re-written by liberal socialists.

They also need to watch what’s happening in Greece.  They’re providing us a look into the future, much like the Scott Brown election in Massachusetts provided the Democrats a look into how much American’s hated Obamacare.

But the Democrats, especially Obama, are still ignoring the signs.

The news the President is down in the polls might be another sign America is ready to face the facts we can’t keep spending money we don’t have.

We must balance our budget immediately, otherwise we may all be standing on a bridge thinking raging waters look like a good investment.


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