Skip to comments.Wall Street Still Finds Ways to Hire Foreigner
Posted on 04/15/2009 3:47:18 AM PDT by PghBaldy
"There are no U.S. immigration restrictions on people working outside the U.S., so anyone who wants to can have folks work in London versus New York," says Allen Erenbaum, a lawyer specializing in immigration issues at Mayer Brown LLP in Los Angeles.
Under the federal economic-stimulus package signed by President Obama in February, companies that receive TARP funds face additional hurdles before they can hire skilled foreign workers who need temporary work permits known as H-1B visas. Firms that have received government money must prove they have tried to recruit American workers for those jobs and that the foreigners aren't replacing U.S. citizens...
Lloyd Blankfein, Goldman's chief executive, described the visa restrictions as "protectionist and self-defeating" in a speech this month to the Council of Institutional Investors.
"Especially at this time in our economy, do we really want to tell individuals who will help companies to grow and innovate -- ultimately creating more jobs -- that they should go work elsewhere?" Mr. Blankfein said.
(Excerpt) Read more at online.wsj.com ...
In the not too distant past I recall being told that we were no longer a manufacturing country because we had transformed into a high-tech services country.
Everyone was supposed to leave manufacturing and get their high-tech certification or degree.
Now these high-tech jobs are either being offshored or foreigners are being brought in to replace Americans.
The middle class is screwed.
Well, now, sounds like youre a booster for Socialism. “Tell the companies that they cant hire foreigners!”. “Make em keep those jobs here”. Free trade, pal. It isnt your money theyre using to hire those people. If a company bears the risk, theyre free to do what they want with their money! And the same for the individual human being!
First laugh of the morning, thanks.
They are no better than those bums who took oil from Hugo Chavez. If you're going to be a bum in America... at least be a pro-American bum!
I saw mention of TARP money, which is MY and OUR money.
When these companies took TARP money, it became our money.
I remember a time when American military veterans were giving preference for postal jobs and I've MET foreigners who are postal delivery employees who can't even read street signs!!!
When 95% of the people in the US are no longer needed and have their hands out, what do you think the “final solution” will be?
Then you are a fascist. The banks are using TAXPAYER/borrowed money. They shouldn’t have taken the money. If banks can use tax money to pay FOREIGNERS, then it was a LIE when Paulson/Geithner/Bernanke said the TARP etc was needed to protect US jobs. Since when did conservatism=welfare for big corporations?
the USA can never compete against “lowest standard of living” countries. The global and elctronic economy have changed a lot of things in regards to where a job has to be done, and negated some transport issues.
US Constitution, Sect II Article 8:
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations
“How “free trade” of anything has helped us, “
Because we now live in the age of newspeak. That which is presented as free trade by the globalists who negotiated various free trade agreements (Nafta, CAFTA, etc.) is probably not what most think of as free trade.
In these agreements, US sovereignty, & national security are sacrificed to open borders needed for the unimpeded movement of goods and natural persons, i.e. units of labor.
US business (not global corporations) and US workers are placed at a severe disadvantage by onerous taxes, extreme environmental regulations, political correctness. Countries such as China and India are excused from even minimal environmental regulations,from what we would consider even minimal humane working conditions, and any semblance of political correctness.
In addition, most other countries have a VAT (Value Added Tax). If the VAT is say 15%, other countries refund that 15% when goods are exported here. These countries then add 15% to US goods imported there, putting US manufacturers at a 30% disadvantage.
When it comes to the elite who negotiate free trade agreements in our names, both Republicans and Democrats have been bought and paid for by global corporations and global bankers.
“I guess you like the idea of eliminating the middle class and becoming a 3rd world country?”
kelelone and a few others who post here seem to be either trolls or deluded into thinking that they are SO special and bright and competitive and flexible that so called ‘free trade’ will never have a negative impact on them.
No, I dont like the idea of eliminating middle class jobs. But at the same time, I dont like this bizarre dictatorial streak which seems to be advocating a closed economy.
Yes, Id like to see production happening in the US. Yes, Id rather not have to buy a bike made in China for my kids, Id rather not have to worry that its made out of old recycled hypodermic syringes, yes Id rather not talk to tech support in “Hyderabad” as old whiskers seems to think Im from, Id rather not do any of those things.
But hey- talk is cheap. Are you guys willing to work in manufacturing? Would you work in a call center? Dyou know anyone who would? Are you willing to pay the extra cash which will be passed on to you as the salary of an american worker?
Personally, I wouldnt mind. Its a small price to pay. But I know that most people would.
And I didnt see the bit about TARP funds. If thats the case, then its wrong, but I think those funds come with riders that disallow beneficiaries from hiring foreigners, so I think theres some mistake somewhere.
If a normal company is making a profit, and wants to hire someone it thinks will benefit it, I think its the height of hypocrisy to want the government hand out of your pocket and your life, and then to advocate just such draconian laws.
And to Algernon: Im no troll. Been here for a while. Nor am I delusional.
It's rather ironic that, on a thread concerning enterprises hiring foreign workers to work in foreign branches of said enterprises, you seek to turn this into a discussion about tariffs on foreign goods (while observing that this is an age of newspeak).
If US goods and the foreign goods are both taxed at 15% in the foreign country, we are at no disadvantage.
If the US good and the foreign good each are taxed at a 0% VAT rate in the US, we are at no disadvantage.
Maybe you want to recheck your math?
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