What could be worse than graduating from an American business school this year with an interest in banking?
Being such a graduate who is not a United States citizen.
A provision in the economic stimulus package limits the hiring of foreign workers by any company receiving government bailout money. In finance, that is nearly every big employer.
At least one financial institution, Bank of America, has rescinded job offers to foreign citizens, citing the new law, signed by President Obama last month. (…)
Absent precise regulations, which have yet to be issued, big banks are being forced to re-examine the hundreds of students that many of them would normally add to their training classes at the end of the academic year. The bill affects people who might have obtained what are called H-1B visas, typically granted to foreign professional workers with skills sought by United States employers. Existing workers are not affected. (…)
The provision – sometimes called Made in America, because it is intended to preserve jobs for Americans in this time of distress – is being criticized by some immigration advocates and deans of business schools, which draw significant numbers of students from overseas.
“It sends a protectionist-oriented message that’s not necessarily conducive to fostering economic recovery,” says Bob Sakinawa, associate director of advocacy at the American Immigration Lawyers Association in Washington. People like the business school students affected by the law are valuable assets that the country should use, he said. “Why cut off that avenue of talent?”
(The New York Times - March 10, 2009)
Rewrite the sentence “At least one financial institution, Bank of America, has rescinded job offers” in the passive voice.
