The Middlemen Gaming the US Work Visa Lottery
For decades, foreign staffing and outsourcing firms have taken advantage of loopholes in a US visa program meant to bring in high-skilled workers to make up for a lack of domestic tech talent. Amid a US immigration crackdown the Trump administration contends is based in part on protecting American jobs, here's how middlemen keep gaming the visa system at the expense of US workers and many others. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
New housing directive could quietly change who qualifies for loans
New housing directive could quietly change who qualifies for loans originally appeared on TheStreet. President Donald Trump has vowed to turn the U.S. into the "crypto capital of the world." He has pursued an aggressive pro-crypto policy during his second term, such as signing executive orders to establish a strategic Bitcoin reserve and pursuing crypto regulatory bills. Now, the Trump administration has taken another step in the direction of crypto adoption. On June 25, William Pulte, director of the Federal Housing Finance Agency (FHFA), issued an order that directs the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FMCC) — popularly called Fannie Mae and Freddie Mac — to consider cryptocurrency as an asset as part of mortgage requests. Join the discussion with Scott Melker on. Fannie Mae and Freddie Mac are government-backed enterprises that purchase mortgages on the secondary market, issue them as mortgage-backed securities (MBSs), and guarantee payments to investors. While the enterprises don't issue mortgages, they issue guidelines around them. Pulte's directive asks these enterprises to formulate proposals to consider crypto assets for reserves in single-family mortgage loan risk assessments. Unlike earlier, the newly proposed process doesn't require the conversion of virtual assets into U.S. dollar as the loan closes. The latest move by the federal housing regulator is reflective of the broader shift toward institutional recognition of crypto as legitimate assets in the U.S. Nonetheless, the order is careful enough to caution Fannie Mae and Freddie Mac against considering cryptocurrencies not stored on U.S.-regulated, centralized trading exchanges. Join the discussion with CryptoWendyO on. Michael Saylor, the billionaire entrepreneur who leads the world's largest public Bitcoin treasury company MicroStrategy (Nasdaq: MSTR), congratulated Pulte on the move. One X user, however, was disappointed with the FHFA's decision to prefer assets held on centralized crypto exchanges over those held in self-custody. New housing directive could quietly change who qualifies for loans first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
28 minutes ago
- CNN
Supreme Court Ruling Boosts Presidential Power - The Source with Kaitlan Collins - Podcast on CNN Podcasts
Supreme Court Ruling Boosts Presidential Power The Source with Kaitlan Collins 47 mins In a day full of Supreme Court rulings, one controversial ruling shifts the balance of powers.
Yahoo
28 minutes ago
- Yahoo
US university leader resigns amid pressure over diversity programs
The head of a prestigious US public university resigned Friday amid pressure over his alleged failure to curb diversity programs, the latest salvo in the Trump administration's war on academia. The Department of Justice had privately pressured the University of Virginia to fire its president to help resolve a probe of its diversity, equity and inclusion efforts, according to the New York Times, which broke the story late Thursday. It had reportedly threatened to withhold hundreds of millions of dollars in federal funding. "I cannot make a unilateral decision to fight the federal government in order to save my own job," UVA President Jim Ryan said in a statement Friday. Ryan wrote that risking federal funding cuts by staying in his role "would not only be quixotic but appear selfish and self-centered to the hundreds of employees who would lose their jobs, the researchers who would lose their funding, and the hundreds of students who could lose financial aid or have their visas withheld." Ryan took the helm of the elite University of Virginia in 2018, a year after white supremacists marched with flaming torches through its campus amid heated debate over the removal of some Confederate monuments in southern states. Ryan's efforts to make the school more diverse and increase the number of first-generation university students reportedly rankled some conservative alumni. "It is outrageous that officials in the Trump Department of Justice demanded the Commonwealth's globally recognized university remove President Ryan -- a strong leader who has served UVA honorably and moved the university forward -- over ridiculous 'culture war' traps," Virginia's two Democratic senators, Mark Warner and Tim Kaine, said in statement. Trump is attacking US universities and other sources of what he sees as left-leaning power in the country as he moves to exert unprecedented presidential control over life in America. A top area of conflict has been "diversity, equity and inclusion," or DEI, programs that sought to correct historic demographic inequity in admissions and funding, but have been criticized as unfair to otherwise well-qualified candidates. Trump notably piled pressure on Harvard University, seeking to ban it from having foreign students, slashing more than $3 billion in grants and contracts, and challenging its tax-free status. Some observers said Friday's developments were an alarming sign for public universities, which are particularly reliant on state and federal funding. "Ryan's resignation portends a future in which all public university presidents must conform to the political views of their state's leadership or be kicked out of office," wrote Inside Higher Ed, an online publication about education. ksb/sla
