A look at how financial firms could benefit from the adoption of blockchain tech and some pitfalls to avoid along the way.
The US economy died when middle class jobs were off-shored and when the financial system was deregulated.
Jobs offshoring benefited Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of “performance bonuses.” Wall Street benefited from the bull market generated by higher profits.
One of the workers Disney fired and forced to train his foreign replacement is scheduled to testify before Congress Thursday, when he will share his story and plead with lawmakers to recognize it as part of a nationwide problem with the H-1b visa program.
Presidential candidate Sen. Marco Rubio (R-FL)79%has doubled down in his efforts to push legislation that would triple the number of H-1B visa holders in the United States, even after Microsoft’s announcement last week that it will terminate another 7,800 U.S. workers in order to replace them with cheaper labor — this on top of the 18,000 it’s already laid off.