The FBI worried that ITS A WONDERFUL LIFE was communist propaganda
An FBI memo in 1947:
With regard to the picture “It’s a Wonderful Life”, [redacted] stated in substance that the film represented rather obvious attempts to discredit bankers by casting Lionel Barrymore as a “scrooge-type” so that he would be the most hated man in the picture. This, according to these sources, is a common trick used by Communists.
In addition, [redacted] stated that, in his opinion, this picture deliberately maligned the upper class, attempting to show the people who had money were mean and despicable characters. [redacted] related that if he made this picture portraying the banker, he would have shown this individual to have been following the rules as laid down by the State Bank Examiner in connection with making loans. Further, [redacted] stated that the scene wouldn’t have “suffered at all” in portraying the banker as a man who was protecting funds put in his care by private individuals and adhering to the rules governing the loan of that money rather than portraying the part as it was shown. In summary, [redacted] stated that it was not necessary to make the banker such a mean character and “I would never have done it that way.”
[redacted] recalled that approximately 15 years ago, the picture entitled “The Letter” was made in Russia and was later shown in this country. He recalled that in this Russian picture, an individual who had lost his self-respect as well as that of his friends and neighbors because of drunkenness, was given one last chance to redeem himself by going to the bank to get some money to pay off a debt. The old man was a sympathetic character and was so pleased at his opportunity that he was extremely nervous, inferring he might lose the letter of credit or the money itself. In summary, the old man made the journey of several days duration to the bank and with no mishap until he fell asleep on the homeward journey because of his determination to succeed. On this occasion the package of money dropped out of his pocket. Upon arriving home, the old man was so chagrined he hung himself. The next day someone returned the package of money to his wife saying it had been found. [redacted] draws a parallel of this scene and that of the picture previously discussed, showing that Thomas Mitchell who played the part of the man losing the money in the Capra picture suffered the same consequences as the man in the Russian picture in that Mitchell was too old a man to go out and make money to pay off his debt to the banker.