When I was in grade school, we started each day with the pledge of allegiance.  As is the case with most kids, it was more about routine than trying to gather any meaning from the words that I uttered each day.  As I grew up, I could appreciate the significance of the pledge, but it still wasn't something that I contemplated much.  This all changed in 2001 on 9/11, when I finally understood why the pledge of allegiance was so important.  For the first time, I felt truly connected to every word, and to my fellow Americans. 

There is no doubt that 9/11 was one of the worst days in American history.  Having witnessed it up close and personal, I can say that I never thought that any positives would ever come of that day.  I didn't realize it at the time, but one very big positive did come out of 9/11, although it seems that it was short-lived.  I can't speak for the rest of the country, but in New York, there was a feeling in the air that we were all in this together.  Patriotism was at an all-time high, and differences were put aside as we were united as one.

For those of you that read my blog, you may have noticed that I haven't been posting much lately.  Initially, it was because I was dealing with some health issues that have since been resolved.  During this time, I spent a lot of time watching CNBC, and following the financial crisis to see how it would affect me on both a personal and professional level.  There was a brief time when I felt that sense that we were all going to come together again as our country was in crisis.  Unfortunately, it didn't last, and a solid foundation began to fracture, until yesterday, when the fracture evolved into an abyss.

In an election year, there is bound to be political posturing, but I had hoped that politicians would come together for the good of the country in a time of crisis.  They did NOT!  Like petulant children that want to take their ball and go home if things don't go their way, our "leaders" turned an important piece of legislation aimed at saving our financial system, and quite frankly, our way of life, into a game of "he said, she said."  Following the failing of the financial rescue bill to pass yesterday, the stock market plummeted by its largest margin ever (777 points).  This sell-off was worse than the one that occurred after 9/11 and the stock market crash of 1987.

You would think that after yesterday's events, the politicians would have realized that they needed to come together to do their part to help remedy this financial crisis that is threatening a global meltdown.  Instead, the ones that were interviewed immediately started the partisan finger-pointing that has become all too commonplace in recent times.  The sad part is that the people that are going to suffer from the politician's actions are not just the Wall Street "fat cats" that seem to be bearing the brunt of the blame.  Quite the contrary!

We are all going to suffer if this crisis is not addressed with swift action.  This is not merely about a stock market sell-off.  While a declining stock market is harmful to a lot of people, it is not nearly as dire as the frozen credit markets that now exist.  It's obvious that frozen credit markets can hurt those that are looking for a mortgage, a car loan or a loan for a college education, but this runs much deeper than that.  Businesses, both large and small, rely upon credit lines to keep their business operating.  If this crisis persists, businesses will close, jobs will be lost, unemployment will rise, people will lose their homes, retirement accounts will be greatly diminished, and we may very well get to see what it is like to live through a depression.

Whether you are a Democrat or Republican right now is of little consequence.  It doesn't matter if you support Obama, McCain or a third-party candidate in this year's election.  This financial rescue plan is necessary to fix a broken system.  Is any taxpayer happy about being a part of a $700 billion "bailout?"  NO!  But that doesn't mean that it isn't necessary.  None of us like paying exorbitant medical bills, but we would do so if it were vital to our survival.  Furthermore, there is a very good chance that this plan will cost far less than the $700 billion that has people up in arms. 

Any money that is being invested in mortgage backed securities has the potential to not only be recouped, but it may also generate profits that will be returned to the taxpayers.  This money is going to be used to purchase assets at a discount rate.  As REALTORS®, we work with people all of the time that are looking for a "deal" on real estate, but "fire sale" bargains are rarely ever found by the small investor because they don't have the leverage to make it happen.  Our government has more leverage than any other entity in the world.  The problem is that its ego-driven gatekeepers must work as a team to allow the leverage to be used.

Perhaps it would be best to have the members of congress recite the pledge of allegiance over and over again until they fully understand the meaning behind it...

I pledge allegiance

To the flag

Of the United States of America

And to the republic

For which it stands

ONE NATION

Under God

INDIVISIBLE

With liberty and justice for all

It's time for the rhetoric to stop, and for action to start.  For the good of the country that they serve, the members of congress need to stop campaigning and start doing the job that they were hired to do.  Nothing less is expected of each of us in our respective careers.