The Daily Feather — It’s a Wonderful Life…Again

Rather than Cinco de Mayo, let’s celebrate Christmas in May. And instead of visions of Mexico City, let your mind’s eye travel to Pottersville. As Parade Magazine reported in December 2022, “Money isn't necessary to live a rich life, just look at George Bailey. In the midst of a financial crisis, the protagonist of It’s a Wonderful Life realizes he is worth far more than his actual monetary value. After being given a “great gift” on Christmas Eve by his guardian angel Clarence, George is reminded that “no man is a failure who has friends”...and of course, family! Since its release over 75 years ago, the inspirational movie has gone on to become a staple of the holiday season. Now, with the most wonderful time of year upon us, familiarize yourself—if you aren't already—with the classic Christmas movie that reminds viewers to take stock of what truly matters.”

On Thursday afternoon, Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, released a statement that began with, “The recent failures of Silicon Valley Bank and Signature Bank, and the decision to approve Systemic Risk Exceptions to protect the uninsured depositors at those institutions, raised fundamental questions about the role of deposit insurance in the United States banking system.”