[dfwgator]

The $787 billion stimulus package prevents financial institutions like Bank of America (NYSE:BAC) that receive TARP money from applying for H1-B visas for highly skilled immigrants if they have recently laid off U.S. workers, the paper reported.

So what's to stop them from simply offshoring those jobs?

[meadsjn]

So what's to stop them from simply offshoring those jobs?

They already have, and that is why their whole company is in shambles.

BoA's growth model for more than a decade has been to buy up American banks, lay off the US employees, and replace them with cheap imported labor (in addition to their offshore workers).