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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."

6 of 749 comments (clear)

  1. Re:I want to know... by mewshi_nya · · Score: 3, Informative

    I'd be feeling a lot happier if they WERE getting 7 figures, instead of the 8-9 they get now...

  2. Re:When the going gets tough... by erroneus · · Score: 4, Informative

    By law, H1-B's are supposed to be paid the same or more than U.S. workers. If they are doing what you say (and you can be sure they are) then they are breaking the law.

  3. Re:Gives "tone deaf" new meaning by rah1420 · · Score: 4, Informative

    How do I keep Obama + Congress from handing them money?

    Write.

    Write to your congresscritter. Every chance you get. Add the email address to your congressperson and your two senators to your address book.

    Go to OpenCongress to see what bills are coming up, which ones have been introduced, which ones are headed for debate, which ones are headed for a vote.

    Tell your reps what you think about the bill and why it's a bad idea. If they don't hear from us, they start operating in a vacuum. They start guessing. And there's a 50-50 chance that they're NOT doing what you want them to do.

    And after the vote is over, send another message. If they voted the way you wanted, thank them. If they voted against your wishes chew them out.

    Write letters to the editor. True, you can usually get published only once every 30 days with most papers but hell, that's 12 letters a year. If you make them cogent and well written you can make friends with the editor, who's looking for good stuff. (My last letter got printed just today as the leadoff letter, which means it was printed in a gray box with an attention-getting border.)

    I have had it up to here. I will NOT go gently into that good night. At the very least, people will know where I stand on something. It may not do any good but the more people who do this the more our government will work the way it's supposed to.

    --
    Mit der Dummheit kämpfen Götter selbst vergebens.
  4. Re:stop the xenophobia by radish · · Score: 4, Informative

    H1-B holders are allowed to transfer to another employer provided the new employer is willing to employ them in that status. In fact, the H1-B is one of the most employee-friendly of all the visa categories - I used to be on an L1-B and I really was tied to my employer. If I quite (or they fired me) it's off to the airport - regardless of how long I might have lived here or how much I paid in taxes. Luckily I'm now a greencard holder but being an immigrant in this country really isn't fun.

    --

    ---- Den ene knappen er powerknapp, den andre er Bender voice knapp "Bite My Shiny Metal Ass"

  5. Re:Could I give a tip to my fellow Americans? by martin-boundary · · Score: 3, Informative
    Your comment makes it sound like the clincher for you is what's written on the resume, whereas you've gone out of your way to point out with your example that actual skills or talent is not as important as the resume.

    In reality, the contents of the resume are not as important as actual skills and experience verified during an interview process. The resume is simply an advert to get noticed, after which the real work on the part of the prospective employer and potential employee starts.

    Now, you've implied that your American candidate has easily the skills required, at that point the resume should not matter at all any more. If it does, it can only be for political reasons, ie to make it look better when your company lists its employees in written documents, a CYA on your part, etc.

    But here's the thing: if _you_ care so much about the hiring politics that you're willing to forego a qualified candidate just because his resume does not look so good, then you've _already_ compromised your hiring standards.

  6. Re:Despite myself by caitsith01 · · Score: 3, Informative

    While I agree that anything that appears socialist is automatically deemed bad by a significant portion of our population..

    I just wanted to point out that we actually have a decent chunk of what you said on the list - and have for a while.
    1) Minimum wage has been planned to make an increase for at least the last year, if not two or more. Personally I do not agree with it but whatever, off topic.
    2) Unemployment benefits are out there, and they are nowhere near what your job was - but they are there. If things get really bad there's welfare.
    3) Unions are popular, just depends on the industry and the area. IT isn't one of those - but things like elevator repair are.
    4) Public Health - while there is currently no such thing as a Public healthcare system like Canada and Europe have, You won't be denied treatment because you can't pay for it. You might, however, have to quit your job if you don't make enough or the employment benefits are woefully inadequate ...
    5) There are plenty of grants and loans out there that most people qualify for. I don't think financing an education is really a problem.

    By way of comparison with Australia, where I live:

    1. As I understand minimum wage in the US, it is woefully inadequate and not generally enough for a single person to live on working a single full time job. This completely defeats the purpose of the thing. In Australia, with a few notable exceptions, minimum wage is at least sufficient to pay rent and food. Low income earners also pay virtually no tax.

    2. We receive unemployment benefits for as long as we are looking for work. They are not exactly a huge amount, but are sufficient for people to live on frugally.

    3. In the 1990s the US had around half the rate of unionisation of the rest of the industrialised world (see table 7 here).

    4. In Australia, if you don't have private health cover you will receive free, unlimited public health. It is slower and can be of a lower standard, but on the whole it is readily accessible and reasonably efficient. Only about 50% of Australians have private health, and those who do not are by no means exclusively poorer or less well educated - many choose not to have it on principle.

    5. Our Federal Government provides public loans to any Australian citizen who qualifies on academic merit for a university course. Free K12 schooling is universally available at the state level. There are also extensive trade-based tertiary education courses funded by the government.

    --
    Read Pynchon.