Thread: Federal Reserve Program Helps Illegals Send Money to Mexico

http://www.nationalledger.com/artman/pu ... 0438.shtml

New Federal Reserve Program Helps Illegals Send Money to Mexico
By Tom Fitton
Dec 14, 2006

If there is one thing this country needs, it’s a new government program designed to help illegal aliens send money to Mexico, don’t you think

This week, JW released Federal Reserve marketing materials created for “Directo a México” [Direct to Mexico], a new government program designed to help immigrant workers in the U.S. – regardless of their legal status – send the money they earn here to their relatives in Mexico. We obtained the marketing materials, prepared for presentations to financial institutions in California in early November 2006, from the Retail Payments Office of the Federal Reserve in Atlanta, Georgia.

Marketed as “the best way to send money home,” offering “more pesos for every dollar,” the Federal Reserve’s remittance program charges U.S. financial institutions $0.67 per item to transfer money from the United States to Mexican banks, ensuring a “highly competitive rate.” The Federal Reserve also provides participating U.S. financial institutions with Spanish language promotional materials to “help get your message out.”

The program was reportedly launched in response to a directive from President Bush following the 2001 U.S. – Mexico “Partnership for Prosperity” created by President Bush and then Mexican President Fox. (This agreement was apparently the precursor to the Security and Prosperity Partnership I’ve been telling you about in past weeks.)

The “Directo a México” marketing materials include information on payment channels and the many benefits to Mexican recipients. They also detail the number of Mexican migrants in the United States, 9,328,405, making no distinction between those who are here illegally or not. A separate list identifies Mexican banks receiving “Directo a México” transfers by branches (8,57 and total bank accounts (41,313,157).

As I’ve been saying in media interviews this week, the taxpayer-subsidized ‘Directo a México’ program appears to facilitate the transfer of wealth by illegal immigrants outside the United States. This program, therefore, not only undermines our nation’s immigration laws, but it is also a potential national security nightmare. In the least, the Federal Reserve should limit this program to legal aliens and U.S. citizens only.

Tom Fitton is the President of Judicial Watch, Inc., a conservative, non-partisan educational foundation, which promotes transparency, accountability and integrity in government, politics and the law.

Federal Reserve = Greedy Globalists Whores!