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Banks bailout and they want to hire foreign workers as American workers suffer....

AP Investigation: Banks look overseas for workers
Monday, February 2, 2009 6:07 AM EST
The Associated Press
By FRANK BASS and RITA BEAMISH Associated Press Writers

SANTA CLARA, Calif. (AP) — Even as the economy collapsed last year and many financial workers found themselves unemployed, the dozen U.S. banks now receiving the biggest rescue packages requested visas for tens of thousands of foreign workers to fill high-paying jobs, according to an Associated Press review of visa applications.

The major banks, which have received $150 billion in bailout funds, requested visas for more than 21,800 foreign workers over the past six years for senior vice presidents, corporate lawyers, junior investment analysts and human resources specialists. The average annual salary for those jobs was $90,721, nearly twice the median income for all American households.



Asked by Anonymous at 8:27 AM on Feb. 2, 2009 in Politics & Current Events

This question is closed.
Answers (40)
  • First, I'm posting anon cause my husband works at one of these banks, well the bank is his client. He works for a company that goes into banks and offshores their technology. The banks shouldn't have been bailed out in the first place....but that's beside my point. Our corporate tax rates are some of the highest in the world, and during the campaigns, Obama was shouting from the roof tops how we shouldn't give big corporations tax relief. Well, when we don't, these big corporations hire people like my husband to come in and offshore jobs, so the company can afford to make it. Sure, are there greedy people that are high up in these companies? Yeah, but the gov't is greedy too. Many of these banks have paid Americans very well in the past....regular Americans, not just the CEOs....but there is also impending doom when they know their taxes will soon go higher than they are now.


    Answer by Anonymous at 8:54 AM on Feb. 2, 2009

  • Of course it isnt, but bailing them out wasnt right either.

    Answer by gemgem at 8:29 AM on Feb. 2, 2009

  • They shouldn't have been bailed out in the first place. Nancy Pelosi made it an urgent matter to pass quickly and look what happens... Why she gets re-elected is BEYOND me.

    Answer by grlygrlz2 at 8:41 AM on Feb. 2, 2009

  • NO WAY! I agree 100% with gemgem, they shouldn't have been bailed out in the first place. But to hire foreign workers instead of American ones puts salt on the wound! It should NEVER be allowed to happen! I am sure there are many American workers sitting on go more than ready to work and have the experience to do so!

    Answer by blessed5x at 8:42 AM on Feb. 2, 2009

  • OH I so agree grlygrlz2!! Pelosi just reams and beams when she wants to spend our money for her lobbyist interests and agendas!! And they say that the Republicans are the party of scare tactics and urgency..........! She rules in a panic critical must act now state! I don't get her re-elections either!


    Answer by blessed5x at 8:54 AM on Feb. 2, 2009

  • great point Anon 7:54! That is why those of us who truly understand the corporate tax have been so loudly saying that it should be cut, like Reagan did. It's like the old saying that says you can give a hungry man a fish and he eats that day, but you can teach him to fish so he eats a lifetime. They bailout these banks which gives them relief now, but raise the corporate taxes and they bomb later. Along with the bailout they should have cut corporate taxes. Relief and long term relief........!

    Answer by blessed5x at 9:00 AM on Feb. 2, 2009

  • I'm anon 7:54.....and blessed5x, you are very right. It seems Obama and the likes have brained washed so many into thinking big corporations are bad. Well...big corporations supply millions of Americans with jobs. As we vote for people who want to raise taxes on big bad corporations, we shoot ourselves in the foot, and don't even realize it.


    Answer by Anonymous at 9:16 AM on Feb. 2, 2009

  • wao that bailout was done by BUSH

    Answer by Anonymous at 9:17 AM on Feb. 2, 2009

  • OOPS...I mean anon...8:54....not 7:54

    Answer by Anonymous at 9:17 AM on Feb. 2, 2009

  • "wao that bailout was done by BUSH "

    The bailout was done by the democrat controlled legislature - that's 535 people

    Answer by NotPanicking at 9:20 AM on Feb. 2, 2009