There is submitted herewith the running memorandum concerning Communist infiltration of the motion picture industry

I love It's a Wonderful Life because it teaches us that family, friendship, and virtue are the true definitions of wealth.

In 1947, however, the FBI considered this anti-consumerist message as subversive Communist propaganda. According to Professor John Noakes of Franklin and Marshall College, the FBI thought Life smeared American values such as wealth and free enterprise while glorifying anti-American values such as the triumph of the common man. (See also: Occupy Wall Street, the 99%, and All That)