I have got this news and it will really diminish the chances of foreigners for getting atleast 1 year US work ex. before leaving to his/her country from USA..

http://ibnlive.in.com/news/obamas-stimulus-bill-a-bane-for-indians-in-us/85647-2-7.html

'' But the package might prove to be a bane for Indians in America. It restricts American companies receiving bailout funds from hiring foreign skilled workers on H-1B visas.''

Friend, above is the last paragraph of the piece and as you can see it doesn't affect us lawyers because law firms have not requested for the bailout. Can you imagine the outcry if lawyers ask for some of the money?

Through His grace we shall take US legal jobs next year!

I heard that there are many smart, unemployed LLMs (from places like Columbia and NYU) because getting a work visa in the US is so difficult. Is this true? If so, I am not sure if spending $60,000 for no job is really worth it.

I agree, it applies only to companies which are receiving bali out money...thats mostly banks, financial institutions, car companies etc...I dont think so it will really affect lawyers directly....but yes, the present scene is bad everywhere not just in US, remember, UK is in worst state than US.

I read last year, a lot of lawyer lost their jobs coz many small law firms in US had shut down. I also had heard that Clifford Chance had a good chunck of lawyers only dedicated to work of Lehman Bros...so when lehman collapsed those ppl suddenly became almost redundant in the firm....Its a Global Crisis my Friend! and no profession is left untouched by it...These are tough and extra ordinary times..so we can only hope that things will improve when we pass out and thats why I believe that, stalling pursing the LLM would not be really a good idea, especially, if one has made to really good school.