BoA Using Tarp Funds To Lay Off Americans And Hire H1b Visa Holders

Filed in National by on February 1, 2009

Mike Castle will be meeting with Execs from the ironically named Bank of “America” this Tuesday.  

I wonder if he will rebuke them for this?

From today’s AP wire – Via Kos

Banks collecting billions of dollars in federal bailout money sought government permission to bring thousands of foreign workers to the U.S. for high-paying jobs, according to an Associated Press review of visa applications.

The dozen banks 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.

“I wonder if he will rebuke them for this?”

I crack myself up.

About the Author ()

Jason330 is a deep cover double agent working for the GOP. Don't tell anybody.

Comments (22)

Trackback URL | Comments RSS Feed

  1. all you can do is laugh. They take tens of billions of dollars, get no executive payout limits and can layoff people….

    awesome, just awesome

  2. nemski says:

    The h1b visa situation is way out of hand regardless of this recent BoA fiasco

  3. Unstable Isotope says:

    It’s going to be difficult for companies to argue that there are no Americans to fill these positions when so many are out of work and looking for a job.

  4. Forensic Audit says:

    Off Topic – Ron Williams today –
    Appointment grievance filed
    A career environmental program manager at Natural Resources and Environmental Control has filed a grievance with the state over the hiring of former gubernatorial adviser Lee Ann Walling as chief of planning, according to

    Walling was a land use adviser to Gov. Ruth Ann Minner and was among the first string of executive department appointees to be awarded a new merit system job after their administration employment expired.

    Dave Carter, the program manager, alleges in his grievance that Walling does not meet the minimum requirements drawn up to create the new position.

    But the best part of this proceeding is that Carter’s lawyers are seeking all written correspondence between Walling, the governor and DNREC to determine who crafted the new job and what influence was used in carrying out the appointment.

    This could be sweet.

  5. Shoe Throwing Instructor says:

    QAmericans must wake up to a Fact, your are but a listing under the colume ULC`s unit labor cost, it makes you vunerable in so many ways. If you do not gathert the courage and guts to fight and bleed for your rights nyou will wind up with nothing.

  6. Jason,

    You are absolutely correct to highlight this issue.

    H1B Visas are for ‘specialty’ jobs not replacement of american workers and I think DHS approves the total and DOL is supposed to monitor the effect on american workers.

    Mr. Castle is the point man here but Sens Carper and Kaufman also need to make sure the Obama administration does not allow this abuse to go on.

    I know you have a thing for Mr Castle but the Senators are also part of this mess and in the end the Executive Branch controls it.

  7. liz says:

    It puzzles me as to why european workers are in the street: England, France, Italy, Spain, Greece and many other countries. In England those being forced out of their homes are fighting back and refusing to leave. Squatters are a quiet revolt. Yet americans are being fired, laid off every day….and we are watching a football game.

    The dumbest sheeple thinking “it wont happen to me”, or “its gonna get better with Obama”, are going to shocked when it happens and they have not prepared. Not one union in this country is opening their mouths about job loss…does that puzzle you?

  8. liz says:

    Protack: there is not a twit of difference between Castle, Carper or Kaufman, three blind mice all on the same page.

  9. Susan Regis Collins says:

    #8 AMEN!

  10. Ben says:

    The Bank of America has hired a number foreign workers as human resource specialist ( compensation analyst). However, this kind of position is not skill-intensive work. Every American worker with college degree could handle as well as those foreign workers, even better. When those banks have received multi-billion bailout money from taxpayers, they must spare those human resource specialist positions for American workers instead.

    In addition, the H1-B visa is supposed to be reserved for rocket-scientist jobs rather than Accounting, HR, and Sales positions. Why are you, American taxpayers/ workers, not angry for this situation. Those zombie banks took money from American workers and hurt American workers at the same time. Bank of America paid above 70K to hire a foreigner as Compensation Analyst (HR entry level position), but all she/he has to do is following Consultants’ orders. So ridiculous!! The only reason Bank of America hired foreign workers is because BofA is able to well control them by H1-B visa program. I could share more sub-rosa stories, if you guys are interested.

  11. delacrat says:

    liz at # 7,

    The unions, thanks to the “right-to-work-for-less” GOP, at best, represent 15% of american workers.

    Big Labor isn’t

  12. Prince says:

    Just to clarify that H1 visa holders are also taxpayers. I am a foreign national working on H1 visa and am as mad at the stupidity and incompetency of the American leadership as you are. I am subjected to as much taxes as you are with the only difference that your kids will probably benefit from all this some day but when i return to my home country, i wont!! I have great respect for this country (not leaders) but please do not vent anger on us for mistakes made by American leaders. Also, the American economy would not have prospered to what it did in the recent past, if it wasn’t for foreign nationals. We are in the same boat, facing the same consequences and have to fight it together. Lets not blame anyone unnecessarily, but blame those who are truly responsible.

  13. delacrat says:


    You are being charitable when you call American “leadership” stupid and incompetent.


  14. Bull says:

    H1Bs PAY AS MUCH TAX as all americans. They fund Social Security , Medicare and all kinds of taxes, but never get a Penny from it. It is all for the Americans.. I don’t understand why a temp worker should pay SS Tax and Medicare Tax..

  15. anon says:

    H1Bs PAY AS MUCH TAX as all americans. They fund Social Security , Medicare and all kinds of taxes, but never get a Penny from it. It is all for the Americans..

    Americans would rather have the paycheck and pay the taxes themselves, thank you very much.

    I don’t understand why a temp worker should pay SS Tax and Medicare Tax..

    That’s an easy problem to fix; hire a citizen full-time instead.

  16. Bull says:

    TARP is funded not only my american citizens tax money. TARP is funded in part by the tax dollars H1B people paid.

  17. Moe says:

    I don’t understand why a temp worker should pay SS Tax and Medicare Tax..

    That’s an easy problem to fix; hire a citizen full-time instead.

    – Only if you have required skills

  18. jay says:

    H1-B exist because employer were not able to hire citizens to do the same job. Sure some abuse the system – just fix the system don’t deport innocent families

    And what about the united states being the land of immigrants? How about being the land of opportunities?

  19. Neil says:

    This is the typical protectionist mindset.
    Whoever says these Banks have taken Americans money should go and read. It’s the Tax payers money and H1B holders pay the same about of tax as the citizens do.
    Everyone is an immigrate to this country.
    It may not be you but your parents, gradeparents who were onces like these H1Bs.
    It’s a land of opportunity for all who work hard and dream for a better life.
    Just because you guys have come here a few decades earlier then these H1Bs, you want them to kill their american dreams?

  20. Kat says:

    Does this apply to those already sponsored on H1B or just new H1B hires?

  21. american puttar says:

    H1b people are specialized workers. Big firms like BoA first hunt for people and when they are not able to find someone, the ad is posted to foreigners. Also, these ‘foreigners’ haven’t just arrived to US but they have specialized degrees from the best schools in US. What’s wrong in hiring specialized worker when you are not able to find someone ? The fact is that these policies are meant to distract people from strengthening economies. 45% of patents are filed by these foreigners who have completed their phds and ms from US. Any take on my arguments ? Please do your research before posting and abusing people.

  22. bebop says:

    Immigrants founded this country but now some of those foreigners see themselves as locals and try to isolate some other immigrants.

    Let all H1Bs leave the country and see what lazy stupid americans would do by themselves alone…

    They deserved this but the reason they are not seeing this is that there are some smart, mature and hardworking americans too and these americans don’t deserve to be punished by like their short sighted racist citizens do…