I've been working in software development for many years, including sr management with a large international consulting firm with extensive India based development centers. My last employer had about 3k developers in India, and many of our executive officers were Indian. They NEVER were able successfully utilize their own off shore centers for development. NEVER - and they were a cmm level 5. Everything always needed re-coded, no matter how much hand holding we did to help them out. Even the Indian programmers on my local staff knew off shore development was a bust - they all did it for their first few years out of college and said once you have any clue as to what you are doing, you leave india for better work. If you want inexperienced developers straight from school, save some effort and get them from your local university.
I agree with the other poster who commented that you get what you pay for - a decent US developer still makes plenty of money, and our rates have not really dropped. Folks who have marketable skill sets still get pretty much the same rates they did 4-5 years ago. The only difference is that the lower tier developers/talent no longer get grabbed up and paid the same as they used to. Yes, there are companies out there who try to pay much less for their developers now, but they are getting the cast-aways of the industry (An analogy I use is putting together a footbal team: pay Arena league salaries, you get Arena league talent - that's fine, just don't fool yourself into thinking there's no NFL out there).
Any US developer you can get for cheap, is cheap for a reason. Believe you me, any good developer with a decent skill set that will work for 25/hr would be grabbed off the street in a heartbeat. I'd be able use as many as I could get my hands on - and would be able to bill them out for WAY more

25/hr is nearly intern pay...
If you want programming help, I'd say find a programmer who is already "into" the markets and partner up. I've personaly done plenty of prgramming work for other traders for free - if they truely have an edge, or no edge but they have access to real capital, then I'd much rather partner up with them
