EAWA and the banks

[happythoughts 0]

clicky

There has been a lot of discussion about banks and
their repayment of TARP moneys.

During the discussion of legislation for TARP,
the remaining American legislators attached something called the EAWA.
The Employ American Workers Act.

Section 1661 of the ARRA incorporates the Employ American Workers Act (“EAWA”) by Senators Sanders (I-Vt.) and Grassley (R-Iowa) to limit certain banks and other financial institutions from hiring H-1B workers unless they had offered positions to equally- or better-qualified US workers, and to prevent banks from hiring H-1B workers in occupations in which they had laid off US workers.

It focuses on the bullshit concerning H1-B visas.
Lie 1 - Outsource companies would say that there
was not enough qualified American workers and that
is why the 65,000 visas exist.
Lie 2 - Obama has plans to educate Americans for
these jobs and then they will get them.

The fact is, there are plenty of qualified, educated
Americans for these jobs. Education is not the problem. How many qualified, but unemployed architects and engineers do we have in this country?

So why do we need this program at all ?
For any profession ? Note - H1B even includes
fashion models. C'mon... we are short of fashion models?

During Hillary's campaign, at just one appearance, outsourcing companies raised $1million and guaranteed at least $5m.

People need to figure out who is on their side.
I'm thinking Grassley and Sanders.

Basic contents:

Quote

According to the guidance distributed by the USCIS, employers must attest to the following additional requirements on the LCA:
• It has taken good faith steps to recruit U.S. workers (defined as U.S. citizens or nationals, lawful permanent resident aliens, refugees, asylees, or other immigrants authorized to be employed in the United States (i.e., workers other than nonimmigrant aliens) using industry-wide standards and offering compensation that is at least as great as those offered to the H-1B nonimmigrant;
• It has offered the job to any U.S. worker who applies and is equally or better qualified for the job that is intended for the H-1B nonimmigrant;
• It has not “displaced” any U.S. worker employed within the period beginning 90 days prior to the filing of the H-1B petition and ending 90 days after its filing. A U.S. worker is displaced if the worker is laid off from a job that is essentially the equivalent of the job for which an H-1B nonimmigrant is sought; and
• It will not place an H-1B worker to work for another employer unless it has inquired whether the other employer has displaced or will displace a U.S. worker within 90 days before or after the placement of the H-1B worker.

[happythoughts 0]

As Milton Freidman said, this is just a subsidy to corporations.
Apparently at the expense of US workers in the highest
paying brackets.

How does an economy recover when the highest paying
jobs are not available to Americans?

Simple, you change the law so that they are. They have.

So, if the H1B visas are not necessary now, were they ever?

Why does this law have a 2-year limit?
Why does it only apply to companies getting TARP money?

Most dangerously, I cannot think of one job that cannot
be outsourced.