The 'too big to fail' banks are preparing to thank Americans for their kindness in agreeing to loan them the money necessary to prevent their failure.

They'll be outsourcing jobs to India as our reward. To the tune of BILLIONS.

MUMBAI (Reuters) – Leading Indian outsourcers such as Tata Consultancy (TCS.BO), Infosys (INFY.BO) and Wipro (WIPR.BO) stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the troubled asset relief program, the Economic Times reported on Monday.

The newspaper said JPMorgan (JPM.N), Goldman Sachs (GS.N) and Morgan Stanley (MS.N) that received approval to buy back government stakes worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.

American Express (AXP.N), Bank of New York Mellon (BK.N) and Capital One, which have started repaying government debt, were also considering outsourcing, it said.