“The TPP would provide big banks with a backdoor means of rolling back efforts to re-regulate Wall Street in the wake of the global economic crisis. The deal would require domestic law to conform to the now-rejected model of extreme deregulation that caused the crisis. The TPP would forbid countries from banning particularly risky financial products, such as the toxic derivatives that led to the $183 billion government bailout of AIG.” The TPP would: 1) Bar reforms such as the Glass-Steagall Act which, for four decades, helped eliminate banking crises by prohibiting deposit-holding commercial banks from dealing in risky investments. 2) Prohibit taxes on Wall Street speculation which would generate 100s of billions of dollars worth of revenue for social, health, and environmental causes. 3) Could empower financial firms to directly attack government policies in foreign tribunals. Click here to read more: exposethetpp.org/TPPImpacts_FinRegulation.html ___________________ More info on TPP at Expose the TPP - USA and ExposeTheTPP.org
Posted on: Tue, 27 Jan 2015 13:40:03 +0000
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