And that is precisely why (imo) the finance world engineered the outsourcing strategy (and invested heavily in off shore body shops) in late 90s. At least that

And that is precisely why (imo) the finance world engineered the outsourcing strategy (and invested heavily in off shore body shops) in late 90s. At least that is how it looked to me in those days. (The official story was that low skill IT jobs are sent off shore to help the bottom line. This, the official reason for a service and information economy to tech transfer its crown jewels, never made any sense. Consider that software craft is mostly learned on the job, thus gutting the entry level insures future deficits in higher levels. And further that by near universal account, outsourced software projects are technically subpar and subject to multiple rewrites. All this while entire floors at investment banks' IT departments were 'let go'. You do the math.)