Rescued Banks Sought Foreign Help During Meltdown

theodp writes "An AP review of visa applications has found that major US banks sought permission to bring thousands of foreign workers into the country under the H-1B visa program, even as the banking system was melting down and Americans were being laid off. The dozen banks now receiving the biggest rescue packages, totaling more than $150 billion, requested visas for more than 21,800 foreign workers over the past six years. (It's not known how many of these were granted; the article notes 'The actual number is likely a fraction of the... workers the banks sought to hire because the government only grants 85,000 such visas each year among all US employers.') The American Bankers Association blamed the US talent pool for forcing the move, saying they couldn't find enough Americans capable of handling sales, lending, and bank administration. The AP has filed FOIA requests to force the US Customs and Immigration Service to disclose further details on the bailed-out banks' foreign hires."

Comments

I want to know...

[Anonymous Coward]

... what the hell Americans are doing if they're not available for the tech OR the banking biz...

Sheesh, get out of Wal-Mart folks and get a job!

Re:I want to know...

[drachenstern]

Oh, you're referring to my way out of date geocities page, which I'm too lazy on /. to update to anything reasonable? You're referring to the website that I made back when I thought black backgrounds on webpages were cool? You're not going to even begin to ask about my experience, or ask for a resume?

Yeah, I was younger once too, and no, I haven't updated that webpage in well over 4 years, so I hope it's pitifully out of date, and has absolutely no relevance to my experience level, nor to my qualifications. Part of the point of updating it then was to say I was married for those few who did go looking for me on the web, not because I wanted to redo it for quality or update any of the information on that page. And right now, I'm working for a small company, doing IT, for just shy of 50k, and they let me work banker's hours, so I'm quite happy, thanks. Just because I can poke fun at banks, and then try to make a joke while doing so (the increasing figures, etc) doesn't mean I think I'm worth 75k or better a year.

Now, once you've asked me about my CV, or my current work experience, or given me a practical exam on some bit of knowledge, don't knock me about my background. Yeah, so I'm too lazy to update google to point to my (currently private) blog, or to update that geocities hovel to something slightly cleaner. Now, did you have a particular question or seven to test my technical knowledge, or did you want to bash me over a website that I never use?

So, while I contemplate possibly updating a site that apparently uses black on black text (wtf was that all about), shall I ask you to tell us how khalidine.com is some sort of personal webpage? It looks like it's a game, so I doubt that tells us all about you, unless you are a AI. /me mutters about silly people knocking us network admin about because we don't bother updating webpages...

I am a non-American working in your homeland

[Potor]

Get over it. And I am even more stealthy, because I am white. Like 74% of you (2006 figures).

And before that, I worked as a foreigner in Europe. And then Asia. And then again in Europe.

I have stolen jobs all over the place.

But you know what - some jobs actually require foreigners, who bring new skills and open up perspectives. This idea of requiring citizens first is actually quite stupid, since it forces corporations to jump through hoops even when their prefered candidate is a foreigner (regardless of salary considerations).

Re:stop the xenophobia

[lena_10326]

If you believe you are inherently more entitled to a job than someone from another country, just because you were born here, then you are a xenophobic prick.

Oh yes.. it's the American way to happily pay for corporate bailouts and cheer on those companies laying you off and bringing in your replacement via H1B, while you suck it up and head to the unemployment office. You know what? I think if anyone here is a prick, it'd be you.

By the way, your question works in reverse as well. What makes foreign workers more entitled to a job than an American paying for the bailouts?

Re:What they really mean

[rocker_wannabe]

What you mean is they'll do whatever "dumb-ass, cheap, shoddy" thing you ask because they'll have to go back to their shack if they don't.

A qualified American will argue with you and try to get you to do the right thing and that won't allow you to make as much money.

You need to be a bit more specific about what you mean by "qualified" so people will know what a greedy, exploitive person you really are.

Re:No, I agree with you.

[daveime]

Amen to that ...

The American phrase du jour is that these "foreign workers don't spend their money here, they send it back home" ... the bastards, how dare they ???

What you fail to realise, is that all these foreigners are working on a different ethos to you ... they SAVE their money, you just BORROW it till your up to your eyes in debt and the system falls apart. You aren't spending YOUR money, you are spending the bank's money, until such time you have repaid it in full.

Maybe if you followed the foreigners way of life more closely, you wouldn't be in all the shit you are now.

Re:What they really mean

[pommiekiwifruit]

Aside from that, I don't know what kind of positions you might have that there aren't better qualified American Citizens (if the job is in the US) available.

Um, he works in "life sciences" which probably means some biology is involved. IIRC Americans don't believe in Biology since it isn't in the Bible. </flamebait>