With a United States jobs crisis, TARP bail out recipients Citigroup and JP Morgan Chase are offshore outsourcing $5 billion in I.T. and back office work to India.

The Banks excuse this time? Regulations. Absolutely ridiculous, it's about labor arbitrage and putting U.S. workers last, even though the United States is down a good 12 million jobs since the start of the Great Recession.

Check out this quote about how India offshore outsourcers were involved with through their own making bankrupt Lehman Brothers:

Manufacturing news has a great article, Indian Outsourcing Firms Use H-1B To Displace U.S. High-Tech Workforce which overviews a new EPI study proving guest worker Visas are being used as labor arbitrage against U.S. workers.

The U.S. visa programs that allow companies to hire skilled foreign workers is "out of control" and is costing Americans hundreds of thousands of jobs, according to an analysis from the Economic Policy Institute. The H-1B and L-1 visa programs currently account for 1 million guest workers in the United States. Many of these foreign workers are employed at companies that have embraced offshore outsourcing of high-wage, high-tech workers as their primary business model.

For all of the rhetoric claiming America innovates and needs the best and the brightest, here is the reality on how IBM treats it's American technical expertise. They had to sue to government to get federal aid after IBM dumped them and offshore outsourced their jobs.

The Hartford began paring down its IT staff after outsourcing a number of tech and back office jobs to IBM in 2007. 110 IT staffers were initially let go, and IBM subsequently laid off a number of former Hartford workers that were transferred to Big Blue under the outsourcing deal as the company moved a number of the positions offshore.

Despite the political and media code of silence on outsourcing while the United States American worker slips deeper and deeper into poverty, we have a new study showing 1.1 million I.T. jobs were offshore outsourced in 2008 alone and another 1.3 million will be gone by 2014.

After a stunning defeat in the midterms, President Obama goes off to India and says India creator, not poacher, of US jobs:

Obama directly addressed the belief in the U.S. that India is robbing Americans of jobs. He acknowledged that many Americans only know trade and global commerce as the source of a job shipped overseas.

This is just an beyond the pale stupid report. Microsoft is literally offshore outsourcing it's own, internal, for it's employees, tech support.

From Economy in Crisis:

U.S. software developing giant Microsoft Corp. announced on Tuesday that it had struck a three year deal with Indian outsourcing company Infosys Technologies to provide technology and support services for the Seattle-based company.

In Recession Doesn't Stop Tech Offshore Outsourcing, Alan Tonelson lists some recent statistics, which show while the U.S. has the worst employment rates since the Great Depression, companies are busy offshore outsourcing more jobs.

U.S. LABOR FORCE TRENDS

U.S. total imports, Jan.-June, 2009: -26.17%

U.S. imports of Other Private Services,* Jan.-June, 2009: +1.03%

U.S. total imports, June, 2008-June, 2009: -55.12%

U.S. imports of Other Private Services, June, 2008-June, 2009: +0.75%

Unemployment rate for U.S. software engineers, 2d Quarter, 2009: 5.0 %

Unemployment rate for U.S. computer scientists and systems analysts, 2d Quarter, 2009: 6.4%

Unemployment rate for U.S. electrical engineers, 2d Quarter, 2009: 8.6%

Services means I.T., offshore outsourcing, now read as imports, work being done offshore.

Oh those advanced degrees which took 5, 7, 9 years to get? Forget it. In the article jobs that won't be outsourced, you should consider mowing laws or retraining to be a psychiatric nurse...oops, they are importing foreign nurses, I forgot. So we can have imported foreign nurses taking care of all of the people who went nuts after losing their careers and livelihoods.