Invest in America !!!!!
I agree with Jim Cramer of Mad Money that the bailout plan is not so much a bailout plan, but an investment plan in our country !
The United States government would be buying assets and either working out loans or reselling the loans at some point in the future. It is not like they are just spending $700 billion dollars on some sort of government program and never see a return. Im not sure if people see that or not.
I am curious to know where the National Association of Realtors (NAR) stands on this issue.
I know the Government plays on fear - in this case our economy could fall into the next Great Depression without the plan. But I do know banks like Wachovia will probably fail without this plan. Without credit and without liquidity, our economy would suffer that much more and there would be an even increased and dramatic rise in foreclosures as there would be less workouts and a sharper decline in home prices. The Invest in America plan will stablize home prices and allow more opportunity for loan work-outs in addition to helping the credit stream for all Americans. And the best part is it that our Government could potentially make money on the whole deal !!! Kudos ! Let's hope for a swift resolution in the next day or two and stave off those next bank runs on our large banks and regional banks as well and let's focus on the return of the United States through the "Invest in America" plan !!
What is your opinion ?