An easier solution to American economic woes

So somewhere in November, when dear friend Vivek was visiting, I had an interesting idea about how to solve the economic crisis (at least thats when I think I had this idea). Since then, it has grown in my head and somewhere I even heard someone else discussing it! Here it is in a nutshell:

• Create a new category of immigrants -- wealthy entrepreneurs/professionals -- who would receive visas and work-permits conditional on bringing in significant assets and placing them in US financial institutions. This would bring capital-starved US banks some new sources of funds on their balance sheets.
  
• These individuals would then be required to use that capital towards buying some of the excess supply of houses (the government can "require" them to buy only sub-prime properties if they buy properties) and/or creating new businesses on US soil (and thus jobs for American workers).
  
• These wealthy entrepreneurs should be allowed a 2 year initial stay after which time they would have to demonstrate that they are adding value. These visas would then be renewed for 10 years once its clear that they are contributing.
  

It would have far more of an economic impact than the proposed stimulus and would also have some other beneficial effects: (a) The plan is cheap; (b) In the very short term, there would be significant favorable effects from a hiring spree by USCIS and a sudden improvement of bank balance sheets; (c) There would be an inflow of creative entrepreneurial ideas from other parts of the world, and finally; (d) Wealthy immigrants buying houses and establishing businesses would stimulate current demand and raise todays GDP growth rates, and also increase investment which will raise future GDP growth rates. Perfect!

Obama could use his unique oratory skills to help educate people about the merits of this approach. He could even give local communities the authority to oversee the activities of the new immigrants and ensure that they do not "take away" American jobs. So much is possible if this idea could only be given a chance!

I understand all the political reasons that make this impossible, but just think how effective it could be....