Here is a very quick clip of my views on the Citibank bail-out and the importance of realigning the interests of US-based multinational firms that take taxpayer money with the interests of America’s workers. This segment played on PRI’s The World which airs on National Public Radio affiliates around the country.
It may sound perverse, but as things look now, these large institutions are getting funds to make them solvent but are laying off workers left and right. There is nothing that is keeping them from moving even more jobs to lower-wage rate countries offshore.
And oh yes. . .the American taxpayer is financing the offshoring.
Not a good deal.
— Steve Clemons