An Associated Press investigation has discovered that the 12 banks receiving the most TARP funds have sought visas for 21,800 foreign workers over the last 6 years.  Even more troubling is that 3,258 visas were requested by these banks in 2007, and 4,163 in 2008.  So, as the U.S. economy continued to decline and the unemployment rate rose, these banks accepted money from taxpayers, then turned around and sought cheaper labor from other countries.  Just when I thought my list was finished, i find yet another reason to dislike TARP.

     The Bush administration and the Democrats said the bailout was necessary, yet its passage seems to have accomplished nothing.  The credit markets haven't improved noticeably, and bad economic news seems to be a daily occurrence.  To make matters worse, we see banks who accepted bailout money acquiring other banks, purchasing expensive corporate jets (Citibank), and paying large bonuses to their employees.  Despite this, the remaining $350 billion in tarp funds will be passed out, and from what I've seen, more might be on the way.  As I've written before, we cannot borrow our way out of this situation.


http://news.yahoo.com/s/ap/20090201/ap_on_bi_ge/bailout_foreign_workers