Big Banks Line Up Behind Amnesty

Six of the United States’ biggest banks signaled support for President Joe Biden’s massive amnesty plan that would put roughly 11 to 22 million illegal aliens on a path to securing American citizenship while doubling legal immigration levels.

During a Senate Banking Committee hearing, the chief executives of Wells Fargo, Goldman Sachs, Citigroup, JPMorgan Chase, Bank of America, and Morgan Stanley suggested that Biden’s amnesty plan “would ultimately help us build a more robust, stronger economy” in a line of questioning from Sen. Bob Menendez (D-NJ).

Overall, the Biden amnesty would likely bring more than 37.3 million foreign nationals to the U.S. — a boon for Wall Street and other corporate interests looking to inflate the U.S. labor market, reduce the cost of labor, invest in more necessary housing while adding as many consumers to the market as possible.

Wall Street is only the latest special interest to join an amnesty coalition that is currently being spearheaded by Biden and former President George W. Bush.

Others lobbying Republican lawmakers to back the massive amnesty include the Koch-funded Americans for Prosperity, the U.S. Chamber of Commerce, the Business Roundtable, the Bloomberg-funded New American Economy, the Texas Association of Business, and taxpayer-funded refugee contractors. Read more…

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