Sunday, June 21, 2009

A Hidden Provision in TARP


I'm about 6 weeks behind on the Economist right now (hey, I'm a busy guy) and I was catching up over the weekend. I was shocked when I read this line in this April 30th article about job recruitment:

A provision in the Troubled Asset Relief Programme requires companies that receive government funds to hire Americans before foreigners.

Why do we do this to ourselves? This idea that there will be a limited amount of highly skilled jobs going forward just isn't based in reality. We need to attract top tier talent to the US and turning away people who want to be here just isn't smart policy.

Isn't it great how provisions like this just "sneak" in to major legislation?


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