I have got to review this movie.... ....because it is the greatest Christmas classic ever filmed, and what's ironic is that it was a box office bellyflop at its initial release in December, 1946 by RKO Radio Pictures. What's more, this movie wasn't even RKO's first choice. It was going to be SINBAD THE SAILOR with Douglas Fairbanks Jr. And Maureen O'Hara. But because IT'S A WONDERFUL LIFE was filmed in black and white at the behest of master filmmaker Frank Capra, this movie was released first and the Arabian Nights epic was released in 1947. Anyways, this movie was a comeback for Frank Capra and James Stewart, both of whom has served during the Second World War; Capra made documentaries while Stewart was a bomber pilot in the European Theater of Operations. James Stewart owned completely the role of small town banker George Bailey who has spent his entire life in the little Midwestern town of Bedford Falls; repeated attempts to leave his little town have ended in complete failure. One night, George Bailey scrams out of his rundown house because he is about to commit suicide! Repeated prayers are heard by the Almighty, and there are two senior angels who are in deep discussion as to what to do about George Bailey, so they call on Guardian Angel Second Class Clarence Oddbody (played con brio by Henry Travers) who still hasn't gotten his wings and his fellow angels are starting to talk. So we enter flashback territory, when George as a little boy saves his brother Harry from falling through the ice and drowning as he slid down to the frozen pond on a spade. George loses hearing in his left ear, though. He works part time in a drugstore owned by Mr. Gower (H. B. Warner) and see the distraught druggist poisoning a child's prescription, and prevents Gower from doing so even though he gets a slap right across the chips but apologizes afterward. George Bailey grows up some and plans a worldwide tour before going to college and is reintroduced to Mary Hatch (Donna Reed) who has had a crushy crush on him ever since she was a little girl. It goes both ways. But before he takes off, his father (played by Samuel S. Hinds) dies from a stroke brought on by the avaricious Henry Potter (Lionel Barrymore in a once in a lifetime performance) who has wanted to get his meathooks on Bailey Savings and Loan; the greedy SOB controls everything else in Bedford Falls. Potter wants to dissolve it, you see. But if George Bailey runs the financial institution, the board will be able to keep the building. George gets to work alongside his absent-minded Uncle Billy Bailey (Thomas Mitchell), and gives his tuition money to brother Harry (Todd Karns) with the understanding that Harry will take over when he graduates. Unfortunately for George, Harry comes back to Bedford Falls from college having gotten married and with job offer from his rich father-in-law. Aw, damn. So George winds up running the savings and loan, and gets married to Mary Hatch. There's a beautiful wedding, lots of happy tears, and $2000 to start their lives together. But they have to pass by the bank in order to catch a train at the depot, and wouldn't you know, as it's the Great Depression there's a run on the bank and a bunch of panicked customers. George pleads with them to keep their money at Bailey Savings and Loan. But there's word that moneybags Potter will pay the customers 50 cents on the dollar. But just when the smelly stuff is hitting the fan and Potter is taunting George over the telephone line, Mary enters the bank with their honeymoon money and after reimbursing the customers, there is two bucks left over by the 6:00 pm deadline. In due course, a housing development known as Bailey Park is built, rivaling Potter's expensive slum neighborhoods. Potter offers Bailey a job worth $20,000 yearly but declines when it turns out that Potter still intends to shut down the savings and loan. George Bailey had no choice but sit out World War II because of his hearing loss. Harry receives the Congressional Medal of Honor for shooting down a Japanese fighter that was about to do a kamikaze number on a transport plane. Flash forward to Christmas Eve, 1945, as Bedford Falls is about to welcome home Harry Bailey and George and Billy are about to deposit $8,000 in the savings and loan and Henry Potter just happens to be at the bank. Billy goofs on the moneybags, accidentally stashes the eight grand in Potter's newspaper. Potter finds the money but the bastard says nothing, just steals the money. And Uncle Billy thinks he just misplaced the money. George harangues his uncle, calls him a stupid, weak, useless old man, and hares off to home, yells at his family, and runs off in the night. And just as he is about to take his own life, Clarence Oddbody jumps into an icy river, and George saves his life. And Clarence gets to show George what life would be like without him. Bedford Falls does not exist; instead it's called Potterville and it is a neon hellhole. Casinos, gambling houses, pawnshops by the bushel, dance halls. George Bailey's mother Ma Bailey (Beulah Bondi) is an embittered widow, ever since the savings and loan shut down during the Great Depression; Mary Hatch became a repressed spinster working at the library; town flirt Violet Bick (Gloria Grahame) is arrested by the cops and is dragged kicking and screaming into a paddy wagon; the crime rate is off the charts; there are amoral townspeople looking for cheap thrills of all kinds; Gower the drugstore owner went to jail for manslaughter and Is reduced to panhandling, on account of he poisoned the pills and killed a young boy; Uncle Billy Bailey was sent to a mental institution after the savings and loans went out of business; where Bailey Park once stood there is s graveyard where Harry Bailey is buried. Harry in this alternate world did not live to serve during WWII, so of course he didn't save the soldiers on the transport plane. In other words, George Bailey has been a tremendous influence. He pleads with Clarence Oddbody to return to his own world, and the wish is granted. So even though George Bailey may be off to the jailhouse, his friends and neighbors show up with money and checks, do it looks like the savings and loan will stay open. George Bailey has been the most selfless man around, which was why he got in big trouble. What a gray example of filmmaking. Did you know that this movie was remade for TV in 1977 as IT HAPPENED ONE CHRISTMAS with Marlo Thomas as Mary Bailey Hatch and Wayne Rogers as George Hatch. Yeah, that girl worked on this fractured flicker and shoved her feminist point of view down everyone's throat. She got Cloris Leachman to play Clara Oddbody and cast Orson Welles as Henry Potter. And then there was another TV movie called ODDBODY (1990) with Robert Carradine as Clarence Oddbody. But accept no substitutions. Stick with the original. It's hard to believe that IT'S A WONDERFUL LIFE was in the public domain during the 1970s and,1980s. Every Christmas, this amazing movie was on every TV station. But then a revived Republic Pictures purchased this movie's copyright and took it out of the public domain; the copyright has since gone over to Paramount. And these days NBC has the exclusive broadcast rights to the film. But it's available on home video and you can stream it, too. You owe yourself the duty and responsibility to watch the James Stewart classic. Do that. You can thank me later.