Can this 700 billion dollar bill be the difference in our Miami foreclosures and our economy?

Our financial system is in the verge of collapse many of our major lenders Country Wide, Indy Mac, Lehman Brothers, and Bear Sterns filed Bankruptcy Because of the amount of defaulted loans and foreclosures. The Credit crunch has hit us like a Radiation blast from a nuclear explosion many are left in credit turmoil with little hope of any near future. The credit crunch has also impacted and cripple local and national business, directly affecting employee and employers. Credit has been restricted and even if companies are seeing great growth the amount of money to lend is very minimal.

"But the drumbeat of bad news rattled on. A government report said that orders to U.S. factories plunged by the largest amount in nearly two years as the credit strains smashed manufacturers with hurricane-like force."

The Dow Jones drop 777 points in one day setting a new record after the rejection of the 700 billion dollar rescue bill. President Bush presented the Bill on September 30 and urge congress to take immediate action to stabilize our financial system. Read more. This has been the largest bailout plan since the Great Depression .The amount of Miami foreclosures and defaulted loans are at its peak and experts say that this is just the beginning.

Can this rescue bill be compared to a life guard applying CPR to a drowned victim or a doctor performing a life and death operation? IS the bill the determining factor between employed or unemployed, homeowner or homeless? Can the bill be the difference between an approved student loan or a denied application? Clearly all of the above is uncertain but this Rescue bill is a huge decision that our lawmakers are taking.  The bill was rejected and denied and the house demanded a revised plan and vowed to enter into renegotiation.

"Under the bill the government could get 250 billion dollars immediately, 100 billion dollars more if the president certified it was necessary, and the last 350 billion dollars with a separate certification and subject to a congressional resolution of approval."

 Do you think the government should use taxpayer's money to stabilize our economy?  Can this bill help stabilize and minimize our Miami Foreclosures? To search for hundreds of Miami Foreclosure click on this link.

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