December 1, 2011
It's a Wonderful Life--But Not a Very Realistic One
It's holiday season, and time once again to watch one of my all-time favorite movies, It's a Wonderful Life. But, as much as I like the movie, I have to admit it's not very realistic. I'm not talking about the angel part; I mean the legal part.
The bank examiner discovers that George Bailey's building and loan is $6,000 short, and Mr. Potter swears out a warrant on George for bank fraud. But George's friends collect enough money to make up the shortfall, the warrant is torn up, the bank examiner is satisfied, and everyone lives happily ever after.
Seriously, in what alternative universe is bank fraud excused if one's friends are able to come up with enough money to replace what you lost? It may make good theater, but it's ridiculous white collar criminal law.
I love the film and watch it every year, but, with all due respect to Frank Capra and the film's writers: Bah! Humbug!
That's the part of the movie you find most hard to swallow?
Posted by: MAW | Dec 1, 2011 3:27:20 PM
"Seriously, in what alternative universe is bank fraud excused if one's friends are able to come up with enough money to replace what you lost?"
There are at least some who would suggest that this is precisely what happened during the 2008 financial crisis.
Posted by: Stefan | Dec 1, 2011 7:51:51 PM
That's clearly not what happened in 2008. Their friends didn't replace the money.
Posted by: Steve Bradford | Dec 2, 2011 7:14:24 AM
Posted by: Stefan | Dec 2, 2011 1:35:42 PM