Case in point, as I like to say:
Apparently Congress' "buy American" clause in the bailout funds is having its desired effect: Bank of America has rescinded its job offers to foreign MBAs. I suspect that Bank of America is at least as motivated by a need to reduce headcount as it is by fear of Congress.
I agree that BoA is probably using the situation to "go Galt," that is, be forced to cut back while pretending one is doing so for other reasons. It's the next sentence that starts paging Dr. Freud.
But cutting your recruitment based on country of origin, rather than skills and fit, does not seem like the most efficient way to do it.
Why are earth do you assume that your fellow American MBAs are inferior to foreign MBAs? You're all educated in America and the Americans would have the benefit of complete fluency in English and American customers. Why would BoA be unable to find enough MBAs, especially during a recession when a lot of MBAs are getting fired? Are there so many foreign MBAs and so few American MBAs that one must hire foreign workers just to fill the new slots at BoA? Why make such a silly statement, especially with no facts or logic to back you up?
As a committed free trader--and an MBA who went through the mass layoffs of the last recession--my sympathy is all with the MBAs. These are people who mostly aren't eligible for scholarships or subsidized student loans; they've borrowed or spent close to $100,000 in America to get their degree, many of them in hopes of staying here. They're intelligent, highly skilled, and promise to be net contributors to the tax system . . . so America kicks them in the teeth and sends them home without a job.
You mean your sympathy is for the foreign MBAs rather than the American MBAs. Mostly, it seems, because they spent so much money and might not get anything out of it.
In other words, your expensive education that was supposed to make you six figures a year disappointed you to the point where you sympathize with foreigners who don't get to take American jobs. During a recession/incipient depression.
Life's All About Megan, isn't it.