Hi all,I have a two-pronged question. I have read that institutions receiving TARP would not be able to hire MFE graduates of foreign nationality. How would this affect foreign hiring in NYC or Chicago? Are there many small boutiques in NYC who may still be hiring fresh foreign grads? I've also heard that small prop shops in Chicago may still be hiring - does this apply to foreign grads? I'm asking because I got offered U of Chicago and Cornell and I'm deliberating between the two. Job prospects after the program are ultimately the most important consideration and hence my first question. Could anyone offer any more subjective information on the pros/cons of these two programs? Thank you.

I've not actually heard that this is a formal requirement yet I do know that BoA has canceled some offers to people on this basis, I guess as a PR move. Microsoft has come under fire from Democrats for letting "hard working American" go, whilst keeping some H1Bs. (Strange how America, uniquely in the world has no slackers amongst those losing their jobs). MS is not important to meny people here, but it indicates a colder climate across corporate America.Necessarily it means that unAmerican grads are going to be competing for only a subset of those on offer, making it tougher even for those not applying to TARP/Democrat influenced firms.My cynical political analysis is that Obama will want to try and hold off protectionism at the G20, and he may offer "protection" as a sop to the illiterates in his party, "protecting" US workers by doing things involving H1B, car industry welfare and TARP that help "hardworking" Americans against us untermenschen.Easy tricks include putting the fees for H1B up a lot, quotas, more enforcement, special taxes and adopting the same granstanding towards H1Bs et al that the Democrats have adopted towards corporate jets. Imagine if Bush's gang had said "the most important thing in the war on terror, is making sure that Osama and Saddam are only allowed to travel around in cheap trucks".

I have heard some foreign national pursuing MFE in USA saying that the big firm are under TARP and the smaller botique firms are not the one that can afford/take pain for H1 B Visa.

talk about being between a rock and a hard place...

QuoteOriginally posted by: quantifyMeI have read that institutions receiving TARP would not be able to hire MFE graduates of foreign nationality.It was proposed that TARP institutions would not be allowed to give H-1B's. What did pass was that they have to fill out slightly more paperwork to get an H-1B.http://www.duanemorris.com/alerts/alert3179.htmlI don't think any of those conditions are harsh.QuoteHow would this affect foreign hiring in NYC or Chicago?Fortunately it really doesn't. It's times like these that make me see the social value of having highly paid lobbyists and lawyers.