Yep I remember them scare mongering with that line. Which really gutted the already short supply of developers available. I also remember when the outsourcing wave came crashing down on their dreams of cheap development labor and they had to come back hat in hand to US developers who understand US business processes to bail them out. BOA being a big one that's project busted spectacularly. Most of us that witnessed this period held their feet to the fire and jacked up our rates, due to the limited supply of developers.