BAILOUTS: A COMPLETE FRAUD AGAINST THE AMERICAN WORKER
By Frosty Wooldridge
February 2, 2009
A recent Associated Press news release exposed U.S. banks accepting billions in bailout money along with major corporations. Banks defraud American taxpayers by hiring thousands of foreign works in place of our citizens.
The report said, “The figures are significant because they show that the bailed-out banks, being kept afloat with U.S. taxpayer money, actively sought to hire foreign workers instead of American workers. As the economic collapse worsened last year with huge numbers of bank employees laid off—the numbers of visas sought by the dozen banks in AP's analysis increased by nearly one-third, from 3,258 in fiscal 2007 to 4,163 in fiscal 2008. The AP reviewed visa applications the banks filed with the Labor Department under the H-1B visa program, which allows temporary employment of foreign workers in specialized-skill and advanced-degree positions.”
With full complicity of our U.S. Congress and former President Bush, “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 $90,721.00, nearly twice the median income for all American households.”
Thomas Jefferson said, “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”
In the past decade, IT workers suffered displacements from their jobs because billionaire Bill Gates wielded obscene amounts of financial power to push H-1B visa entries to over 1.0 million foreign workers. That’s how many U.S. IT workers watched their jobs vanish in the past 10 years. Additionally, those foreign IT workers send their money home to their countries. Instead of our money circulating throughout the U.S. financial system, it bleeds out of our country.
Overall, cash transfers exceed $80 billion annually to foreign countries. To give you an idea of how much money we lose, Mexico’s reception of U.S. dollars runs $24 billion every year for over 10 years. Other than oil income, Mexico’s second biggest income flows from the cash transfer pipeline.
The Bear-Stearns Report showed that the Mexican and immigrant impact in America makes those workers the second largest underground economy in the world. They bleed the U.S. treasury, and presently, we suffer a $10.3 trillion deficit.
“It is unclear how many foreign workers the banks actually hired; the government does not release those details,” the AP reported. “The actual number is likely a fraction of the 21,800 foreign workers the banks sought to hire because the government limits the number of visas it grants to 85,000 each year among all U.S. employers. During the last three months of 2008, the largest banks that received taxpayer loans announced more than 100,000 layoffs. The number of foreign workers included among those laid off is unknown. Foreigners are attractive hires because companies have found ways to pay them less than American workers.”
By digging further, financial institutions like Fannie Mae and Freddie Mac received $85 billion in bailout money, but gave away billions in fraudulent loans to illegal aliens and poor people unable to bring a dime to the home-ownership signing table.
In other words, we endure gross if not obscene corruption at the highest levels in Congress! Yet, we re-elected those scoundrels such as Senator Harry Reid and Nancy Pelosi for starters!
When you look at the thousands of employers who hire illegal criminal aliens, you see a pattern of corruption that defies imagination. Not only do the employers undercut and displace American workers, they fail to pay taxes on an estimated 50 percent of the money because they pay under the table.
Every illegal alien employer undermines the U.S. Constitution which provides him/her with a free society, a magnificent life as well as freedom from terror. But when they commit their corruption, they undermine the standard of living and quality of life for our citizens. Every CEO, company president or construction company that hires illegal aliens in place of Americans—or, average citizens that hire illegal criminal aliens—you fuel massive corruption.
For guys like Bill Gates, you cheat your fellow Americans. For the head of McDonald’s, Wendy’s and other fast food giants, your hiring illegal aliens steals jobs from our working poor. You CEO’s at Tyson, Hormel, Swift, and Amour make me sick with your corruption. You head-honchos at Target, Wal-Mart, Lowe’s and Home Depot create 15 million unemployed American workers by selling $700 billion a year in products made from India, China, Mexico—seldom do we see anything “Made in America” today.
And you, U.S. House reps and Senators, you make me sick most of all because you instigate such monumental fraud against U.S. workers.
As a final note, let it be known that corruption becomes a ‘mechanism’ or paradigm that operates in third world countries stemming from a well-entrenched power elite. Once in power, they crush the middle and lower classes into perpetual poverty.
While we immigrate 2.4 million third world migrants into our country annually to take our citizens’ jobs and we create more unemployed by allowing 20 to 30 million illegal criminal aliens—our middle class falters into a new poverty.
Today, we face devolution of America’s middle class at the hands of our own leaders, corporations and new ruling elite.
Subscribe to the NewsWithViews Daily News Alerts!
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it." Dr. Adrian Rogers, 1931 - 2005
Listen to Frosty Wooldridge on Tuesdays and Thursdays as he interviews top national leaders on his radio show “Connecting the Dots” at republicbroadcasting.org at 6:00 PM Mountain Time. Adjust tuning in to your time zone.
© 2009 Frosty Wooldridge - All Rights Reserved