September 4, 2011
Media news about the economy tells us the American Dream is dead. Doom. Gloom. At least for a couple of years, with college graduates knocked on their heels and unemployment at 10%. Okay, okay. I don’t want to read about it. But how can I not?
And then today, September 4, in the Los Angeles Times, the front page article burst out: “In U.S. visa program, money talks.” The subtitle: “A little-known policy puts foreigners who invest $500,000 to create jobs on the fast track to green cards.”
History: Congress created the program EB-5 in 1990 to attract wealthy Hong Kong residents looking to flee the British colony before the 1997 transfer to communist China.
But people from other countries have jumped on the opportunity. Just in the first six months of 2011, there were 171 applicants.
So why are all these “rich” people clamoring to come to the United States? From countries around the globe?