Thread: Shame on American Companies

American Companies Embrace 11 Million Illegals
Jim Meyers, NewsMax.com
Thursday, July 14, 2005
American companies are bending over backwards to cater to a booming new market – illegal aliens.

Latin American consulates can now issue an identification card – called a matricula consular in the case of Mexico – to nationals who reside illegally in the U.S.
Story Continues Below




Armed with these IDs, the undocumented immigrants can open bank accounts and apply for credit cards and car loans.
Then they can apply to the IRS for an individual tax identification number (ITIN), allowing them to pay taxes like any U.S. citizen – and even get a home mortgage.

Companies are rushing in to serve this previously untapped market.

Among them:


Wells Fargo & Co. has more than half a million matricula accounts - most of them, the company acknowledges, opened by undocumented aliens.
In all, more than 400 banks, thrifts and credit unions, including Bank of America Corp. and Citigroup, now accept a matricula as a valid ID.
Blue Cross of California sells health insurance to matricula holders from desks set up inside Mexican and Guatemalan consular offices in the U.S.
Sprint and Verizon both offer cell phone service to matricula holders.
Home mortgages taken out by illegal aliens could be worth up to $60 billion over the next five years, Business Week reports.
Kraft Foods Inc. provides workbooks at local English as a second language classes that include coupons for Kraft products, such as Capri Sun drinks.
The Los Angeles department store chain La Curacao offers credit cards to undocumented Latino immigrants with a matricula and has issued nearly 1 million so far.
The number of illegal immigrants in the U.S. has been estimated at from 11 million to as many as 20 million, and their growing numbers put downward pressure on American wages and strain schools, hospitals and other public services.

And while it may be against the law for these immigrants to be in the country or for an employer to hire them, there's nothing illegal about selling to them.

So companies are beginning to see this fast-growing population as "an untapped engine for growth," according to Business Week.

"But by finding ways to treat illegals like any other consumers, companies are in effect legalizing – and legitimizing – millions of people who technically have no right to be in the U.S."

Meanwhile, the federal government has virtually given up enforcing the law forbidding the employment of illegal aliens and instead has focused on potential terrorists who might try to enter the country.

Last year the U.S. Immigration & Customs Enforcement agency brought just three actions against companies for hiring undocumented aliens. But not everyone is thrilled about the buying power of the illegals. An Alabama bank that began offering mortgages to applicants with an ITIN immediately received hostile phone calls and e-mails, with at least one calling the bank's action "traitorous."

And before companies get too excited about the long-term prospects of reaping big rewards from the illegals, they might consider this: A survey by the Mexican Cement company Cemex found that 58 percent of Mexican migrants to the U.S. plan to build a home of their own – in Mexico.




Editor's note:

Yes and this is a very interesting development.

Not surprising.

Upsetting indeed but to be expected with what we now know about our US Government and the Federal Reserve.

What these big banks are over-looking today that they did not over-look in years past is that their borrower will soon be deported and then who will pay the mortgage?

They will default of course; the bank will need then to re-sell the home. If prices hold, it won't matter. If prices do not hold, then they will lose some money.

It was a risk they chose to take, especially since all the Congress boys and girls have I'm sure already "assured them", we're gonna give them all Amnesty so....NOT TO WORRY!!

Your voice doesn't count anymore, America. That is pretty obvious.

The French....VOTED NO ON THE EU CONSTITUTION and ended the Globalist Takeover of Europe.

The French....are CLOSING THEIR BORDERS less than a week after the LONDON TERRORIST bombings and bringing Open Borders in Europe to a halt.

The French...CONTROL THEIR GOVERNMENT.

The French....are the reason the United States exists for without their Navy during our Revolutionary War, we may never have defeated the British.

The French Underground....was a crucial if not pivotal force during World War II....without which the outcome of the war may have varied.

The French are Freedom Fighters....Folks. Then, now and every day in between.

Right now....the best friend America has in the World are the French!!

Follow their lead. We are no longer Alone.

Vive La France!!

Judy, the French are an arrogant bunch of fools at time that we bailed out in two world wars BUT they are nationalist where as too many Americans today don't seem to be esecially the CEO's of big companies.

If the Mexicans want to build a house in Mexico let them....when will they ever be able to live in it IF there are no good paying jobs in Mexico?
Some litle town in Ecuador has a lot of big EMPTY houses. These houses were built by Ecuadorian immigrants in New York but they can't go back until they get a pension.

Buy American and avoid those companies listed above if you can?

JackSmith--the arrogance of the French is what caused them to defeat the Globalists; to force their government to defeat the Open Borders Lobby; and to commence an end to the illegal immigration into France weakening their country--in the past six weeks.

When Fights for Right are necessary, Arrogance is a beneficial characteristic because it brings forth the Indignation necessary to regain control of their representatives and government officials.

DON'T SPEND, SAVE!! (Absolutely, break these banks--they are Traitors beyond imagine).

Here is the deal with these banks....most of these loans are internal loans, probably without sell of markets. Unlike those that can be sold to Fannie Mae, etc., they are going to be holding these for awhile....at low interest rates and low margins. They are completely silly loans, showing desperation.

Take out any money you have in these banks and move that money to a small bank.

Pay off your credits with these banks, whatever it takes. Don't let them use your much higher credit card rate subsidize these low interest mortgage loans.

Do not use your Debit Card. Draw out cash and use that for your weekly shopping. They make "fees" every time you use that Debit Card from the vendors.

All these "fees" for you help make the money available to the illegal aliens. All your deposits in their bank make the money available to the illegal aliens.

Find a nice small bank....or two small banks....do business with them and let the big boys "sweat". Amnesty is not a sure thing. Congress will probably do it even though it is AGAINST OUR WILL...but it's not over until its over, so I think the Banks jumped the gun abit.

JUST HANG ON TO YOUR MONEY EVERY WAY YOU CAN!