For those that do not understand the reference, “It’s A Wonderful Life” 1946 Movie Building And Loan Chair George Bailey (Jimmy Stewart).
How else can you explain the lack of a Savings and Loan Now-a-days?
For those that have forgotten just what that is or was,
Local folks with Secure Vaults hold the savings of other local folks and pay them interest on their money.
The money is then made available to other local folks for lend at a premium over the interest paid to the savers.
Yes, I think Mr Potter has won the day.
What kind of interest do you make on savings now ?
If you borrow, look at what they charge for the lease of the money and those hidden rules and fees seem to change no matter if you are “good for it” and probably worse if you are good for it. Mr Potter (The banks) have become so large, they do not know who you are. Just how much juice can you squeeze from that lemon.
But please take a moment to ponder if all of this had not happened. I mean to say that the most of us put a third of our savings into a Savings and Loan where local money stayed local much like George Bailey’s Building and Loan.
I can’t say you would be better off personally but your community would be better off and you personally would be better for it as you would have more folks working and paying taxes so your share of those taxes needed would be less. It seems to be a simple trend to follow, the more and bigger the companies get, the fewer jobs there are and the higher taxes we are asked to pay in the following years.
Now Mr. Potter has become so large and greedy after putting the thorn in the butt Bailey Building and Loan out of business that he can not manage his own affairs and asks us for a hand-out. Because so much is riding on so few, it is a major event that they should fail and now we must actually do something for him as he controls so much. Gee, I thought we were to bail-out George Bailey not Mr Potter. I have never seen a bigger argument to “Break-Up” the Mr Potters of the world into smaller, more manageable parts but the reverse seems to be continuing despite our recognition of that. Show me where and how many people have benefited by allowing big mergers and and will show you more that have lost, just over a longer period of time so the losses remain a hidden statistic. Just not enough competition for a Mr Potter now-a-days. He spent so much acquiring competition, he can not sit-out a small storm, instead, a small storm is now a hurricane for all of us.
Now when you spend your money at The Big Box Marts, Company Owned Franchises or the Local Gambling parks of the world that Mr Potter Types Owns or Controls, you help a local employee with a small wage and that is all. The profits are taken to be spent in other regions of the country and world. Mr Potter just horded the money to benefit only himself and that is legal and O.K. but what does it do for your choices to put your money spending or saving?
Local money taken to other areas is local money never taxed again that tax loss you must now make-up for while your new Franchise or Mart has been costing you in other ways in the form of Roads/traffic control, police and fire protection and water and sewer improvements. Now you have little choice as Mr Potter is are all that survives but at a price we shall all pay.
We are all guilty of greed and unlike the movie, You sold your shares to Potter, Now You Must Deal with Mr Potter! How do you like him so far? Much more of Mr Potter to come if you have not yet made up your mind.
Yes, George Baily must have jumped from the bridge or got his wish and never have been born.
…signed – Clarence, who never got his wings and now wishes to join George and not been born and therefore moot.
Where are you George Bailey, we need you !
Merry Christmas Everyone!