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  • Thomas Friedman: The Open-Door Bailout [How Immigration Will End the Financial Crisis]

    02/11/2009 10:15:40 AM PST · by AfterManyASummer · 89 replies · 1,983+ views
    New York Times ^ | 2/9/2009 | Thomas Friedman
    Leave it to a brainy Indian to come up with the cheapest and surest way to stimulate our economy: immigration. “All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans because not paying your mortgage is considered shameful here. And we will start new companies to create our...