A FOX Business Network/New York Post article by Charles Gasparino describes how high rollers such as Goldman Sachs are outsourcing jobs to India and Singapore, not just to save money, but to shield them from the expected effects of new legislation such as Dodd-Frank.
Why is Goldman Sachs pre paring to outsource traders, salespeople and investment bankers from here in America, where it has made untold billions over the years as Wall Street's premier trading firm, to places like Singapore and India?
The answer can be found largely in the 2,000-plus pages of last year's Dodd-Frank financial "reform" law -- which will eventually translate into some 40,000 pages of regulations. The financial industry is still frozen, waiting to find out how bad these regs will turn out; but what all the CEOs of the big banks know for sure is that it's about to get a lot more expensive to do business here....
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