Here’s something that just makes my blood boil! It seems that the major banks – you know, the ones we’ve been propping up with hundreds of billions in taxpayer money – have been accelerating their importation of foreign workers even as their companies were collapsing and they were laying off Americans.
Major U.S. banks sought government permission to bring thousands of foreign workers into the country for high-paying jobs even as the system was melting down last year and Americans were getting laid off, according to an Associated Press review of visa applications.
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 for positions that included 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.
Yes, these are high-paying jobs that Americans would love to have. So why are they importing foreign workers to fill them? Is it because they can’t find American workers, as the high tech industry is so fond of saying? Or is it because they believe so fervently in the inscription on Lady Liberty – “send us your huddled masses yearning to breathe free?” Is it done out of some humanitarian sense of duty to help the huddled masses in foreign lands? No.
Companies are required to pay foreign workers a prevailing wage based on the job’s description. But they can use the lower end of government wage scales even for highly skilled workers; hire younger foreigners with lower salary demands; and hire foreigners with higher levels of education or advanced degrees for jobs for which similarly educated American workers would be considered overqualified.
“The system provides you perfectly legal mechanisms to underpay the workers,” said John Miano of Summit, N.J., a lawyer who has analyzed the wage data and started the Programmers Guild, an advocacy group that opposes the H-1B system.
I encourage you to read the whole article. It does a great job of exposing the H-1B visa program for what it is: a pay-back to big corporate lobbyists who don’t give a damn about America or its people.
President Obama, do the right thing and put an end to the abominable H-1B program that is a slap in the face to every working American.