Walk the streets of Miami, and you'll find that illegal immigration could fast become America's most explosive issue.

Some look at this subject along party lines, others see it more as an homage to our nation’s great immigrant heritage.

But whether you're a Democrat or a Republican have you looked at this problem through the eyes of a capitalist?

From industrial plants to lawn maintenance, illegal immigrants form a key component in our economic engine. With a recession looming, is now a good time to retool the mechanism?

Jack Welch, former GE Chairman joins the panel for this conversation. Following is a summary of his main points.

Describe the immigration issue as you see it.

“We have an immigration problem at both ends,” explains Welch. “We’re throwing out the people who are doing a job at one end, and we’re throwing out the people we educate on the other end by not having enough visas.”

“The idea that you can throw 12 million people out of this country is insane,” he adds. “It’s insane! We have to come up with a way to make them citizens and have an opportunity at the American dream.”

What would you do?

“We need to register them for jobs and let them know they’re not criminals,” replies Welch. “People who are hard working need to be allowed into the system and allowed to pay taxes. We need to bring them out of the shadows and give them a way to learn the language and earn citizenship. That’s the only way.”

Read More:

> "Miami: Gateway To Latin America" - Miami is America's bridge to one of the best investment opportunities out there.

> "It's Getting Worse" - Your Miami inspired real estate trade

> "Rockin' Retirees" - Your Miami inspired baby boomer trade

> "Ryder In The Storm" - Your Miami based sector trade

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Trader disclosure: On Feb.29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (YHOO), (ATVI), (DIS), (INTC); Najarian Owns (AAPL), (BIIB), (BKC), (C), (CSCO), (MS), (MSFT), (YRCW), (XLF); Najarian Owns (YHOO) And (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (CROX), (FNM), (GE), (MSFT), (TSO), (WMT); Finerman's Firm Is Short (IYR), (IWM), (IJR), (MDY), (SPY); Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Owns (MSFT); Seygem Asset Management Owns (TS), (TSO), (HXM), (EEV), (ITU); Seygem Asset Management Is Short (EEM); GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"