MR. POTTER VS. GEORGE BAILEY

4 Feb

MR. POTTER VS. GEORGE BAILEY

Louise Annarino

February 4, 2012

Mr. Potter and George Bailey are both characters the 99% have come to mistrust: bankers. But, the community of Bedford Falls, a community of 99ers, doesn’t mistrust George Bailey.He is the hero of IT’S A WONDERFUL LIFE, a beloved community leader.

Each man understands and follows sound business practices.Each seeks to make his business profitable. And, each hopes to make a good life for himself. Each pursues the American Dream.

Bedford Falls knows George Bailey understands their plight and is willing to fight for them. He is even willing to fight his fellow banker, on their behalf. For, Mr. Potter has set himself apart from the community of Bedford Falls. He has become an economic dictator, who relishes his superior wealth and economic position, and believes he alone knows best what enterprises should be funded and who is allowed to pursue economic freedom from his control.  Businesses rise and fall on his whim, guided by is ability to “cash in on” a given business enterprise. George Bailey stands in his way to total domination of Bedford Falls.

Sound familiar? Mitt Romney and Mr. Potter are men of a single mind, the mindset of the Republican Party. George Bailey and Barak Obama are men of a single mind, the mindset of the Democratic Party.

Some progressive Democrats are angry that President Obama is willing to associate with and confer with bankers, just as George Bailey did. Banks are an economic engine for our communities. Of course President Obama must engage the expertise of that community to restart America’s economic engines. His choices may not always have been ones we agree with, but the 99% can trust him to do his best to save our communities as George saved Bedford Falls over the years. George saved his community one member at a time. It was a slow process,often painful and calling for George to sacrifice his own security. George discovers he created not just a good life for Bedford Falls; but, a wonderful life for himself.

At the end of the story, the 99% community of Bedford Falls pulls together to help save the Bailey Building and Loan. In doing so, they save George,themselves and their town. They stop Potter from taking absolute control of their community. The 2012 election offers the 99ers the same opportunity. We can elect President Barak Obama, saving his second term as president;and, in the process save ourselves and our communities.

Nowhere is the distinction between Republican candidates such as Mitt Romney and the Democratic candidates such as Barak Obama more obvious than in a review of campaign fundraising records filed with the Federal Elections Commission.

Only President Obama refuses donations from registered lobbyists and bans them from raising money for his re-election. Others in their firms may make individual contributions. Obama goes even further. Though not required to do so, he discloses everyone who has raised at least $50,000. Mitt Romney is the beneficiary of $2.2 million from registered lobbyists.1

As of 12-31-2011, President Obama has raised $128 million dollars. His largest bloc of 2011 donors are retirees. 1 President Obama’s small-dollar donations,those $200 or less, exceed the overall total raised by any other candidate; and, are one-half of the Obama campaign fundraising total.2  One-fourth of Romney’s campaign chest comes from 41 individuals who have formed a super PAC. As of 12-31-2011, the PAC Restore Our Future has raised $30.1 million dollars for Romney. 4 Ten of the donors have contributed AT LEAST $1 million each. 3 Most recently, a former associate (as is Romney) of Bain Capital, Edward W. Conrad, was disclosed to have made a $1million donation to the PAC as W Spann,LLC. W Spann, LLC was formed in Delaware in March; donated to the PAC in April; and dissolved in July, 2011leaving no paper trail.3

Candidates and their campaign committees are required to remain independent of PACS; but, Romney has made personal appearances at Restore Our Future fundraisers.3  The Stephen Colbert PAC, administered by Jon Stewart is an apt parody.

As of 12-31-2012 President Obama had collected $139,526,311. Mitt Romney had collected $57,112,767.  Republicans allege they are raising many more millions than President Obama, who many analysts believe has been abandoned by Wall Street donors. Hedge fund managers fear proposed tax reforms which will tax their gains as regular income. Mr. Potter of Wall Street is not happy with Mr. Obama. Mr. Potter of the US Chamber of Commerce (the bankers) is not happy with Mr. Obama. I, for one, am happy with President Obama and his willingness to fight the Mr. Potters of the world. My money is on Obama. Is yours?

1. http://www.bloomberg.com/news/2012-02-03/lawyers-rank-third-on-obama-campaign-donor-list-even-with-lobbying-ties.html

2. http://elections.nytimes.com/2012/campaign-finance

3.http://www.boston.com/news/politics/articles/2012/02/02/hedge_fund_moguls_top_list_of_donors_to_super_pac_supporting_mitt_romney/

4.  http://www.washingtonpost.com/politics/mitt-romney-relying-heavily-on-small-group-of-super-rich-donors/2012/02/01/gIQAFVB4iQ_story.html

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