“The porous border is a National Security nightmare. I guarantee you, there are probably those who have snuck into this country across the Mexican border that are terrorists.”
Without a doubt
Must read for all:
http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm
Embracing Illegals
Companies are getting hooked on the buying power of 11 million undocumented immigrants
But Inez and Antonio aren’t your typical American consumers. They’re undocumented immigrants who live and work in the U.S. illegally. When the couple, along with Esmeralda, crossed the Mexican border five years ago, they had little money, no jobs, and lacked basic documents such as Social Security numbers. Guided by friends and family, the couple soon discovered how to navigate the increasingly above-ground world of illegal residency. At the local Mexican consulate, the Valenzuelas each signed up for an identification card known as a matrícula consular, for which more than half the applicants are undocumented immigrants, according to the Pew Hispanic center, a Washington think tank. Scores of financial institutions now accept it for bank accounts, credit cards, and car loans. Next, they applied to the Internal Revenue Service for individual tax identification numbers (ITINS), allowing them to pay taxes like any U.S. citizen — and thereby to eventually get a home mortgage.
Today, companies large and small eagerly cater to the Valenzuelas — regardless of their status. In 2003 they paid $11,000 for a used Ford Motor Co. van plus $70,000 more for a gleaming new 30-foot trailer that now serves as headquarters and kitchen for their restaurant. A local car dealer gave them a loan for the van based only on Antonio’s matrícula card and his Mexican driver’s license. Verizon Communications Inc. also accepted his matrícula when he signed up for cell-phone service. So did a Wells Fargo & Co. (WFC ) branch in the predominantly Hispanic neighborhood in northeast Los Angeles where they live. Having a bank account allows them to pay bills by check and build up their savings. Their goal: to trade up from a one-bedroom rental to their own home. Eventually, they also hope to expand their business by buying several more trailers. Matrícula holders like the Valenzuelas are “bringing us all the money that has been under the mattress,” says Wells Fargo branch manager Steven Contreraz.