ILW.COM - the immigration portal Immigration Daily

Immigration Daily: the news source for legal professionals. Free! Join 35000+ readers

Home Page

Advanced search


Immigration Daily

Archives

Processing times

Immigration forms

Discussion board

Resources

Blogs

Twitter feed

Immigrant Nation

Attorney2Attorney

CLE Workshops

Immigration books

Advertise on ILW

VIP Network

EB-5

Chinese Immig. Daily

About ILW.COM

Connect to us

Make us Homepage

Questions/Comments


SUBSCRIBE

Immigration Daily

 

Chinese Immig. Daily



The leading
immigration law
publisher - over
50000 pages of free
information!

Copyright
©1995-
ILW.COM,
American
Immigration LLC.

Immigration Daily: the news source for
legal professionals. Free! Join 35000+ readers
Enter your email address here:



< Back to current issue of Immigration Daily < Back to current issue of Immigrant's Weekly

Bloggings on Dysfunctional Government

by Angelo Paparelli

Editor's note: Here are the latest entries from Angelo Paparelli's blog.

November 14, 2008

Naked Short Sellers of the EB-5 Immigrant Visa Category

I spent this week on a three-city speaking tour in Asia with a delegation from the County of San Bernardino (California) Economic Development Agency. Our purpose was to promote foreign investment into the county and outline the advantages of the EB-5 (Employment-Creation) immigrant investor visa category. Speaking in Seoul, Shanghai and Hong Kong to enthusiastic audiences, I was struck by several moments of irony.

The audiences were amazed that in America a man raised in Indonesia, the biracial son of a Kenyan father and a Kansan mother, could become President of the United States. Despite the economic turmoil the world faces, these audiences still see America as a land of stability in a sea of uncertainty. They appreciate not just the improbable ascendancy of our President-elect. They also marvel at how the prolonged and hotly contested primary and general election races could result in such a smooth and peaceful transitioning of power.

I was impressed with the dynamism and plentiful opportunities in Asia, and reminded that America is not necessarily the sole destination of choice.

I was also struck by the farsightedness of San Bernardino County. While many local governments compete to display machismo toughness in immigration enforcement, San Bernardino promotes the economic benefits that employment-based immigration affords.

If only our leaders in Congress were so enlightened. They just kick the football a few yards ahead by approving an extension of the EB-5 regional center program only to March 6, 2009 rather than grant a permanent extension. As unemployment soars well past six percent, our tentative federal leaders ignore the job-creation benefits that a permanent EB-5 regional-center extension would produce.

Why should foreign investors be bullish on America when Members of Congress are short sellers?

[Disclosure: With Steve Yale-Loehr and Nelson Mamey (a lawyer who prefers real estate finance and development over law practice), I own a recently approved regional center in Southern California.]