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TPP Trade Pact Would Give Wall Street a Trump Card to Block Regulations
(The Intercept) Banks and other financial institutions would be able to use provisions in the proposed Trans-Pacific Partnership to block new regulations that cut into their profits, according to the text of the trade pact released this week.
In what may be the biggest gift to banks in a deal full of giveaways to Hollywood, the drug industry and technology firms, financial institutions would be able to appeal any national rules they didn’t like to independent, international tribunals staffed by friendly corporate lawyers.
That could nullify a proposal by Hillary Clinton to impose a “risk fee” on financial firms — or the Elizabeth Warren/Bernie Sanders plan to reinstate the firewall between investment and commercial banks.
Financial firms could demand compensation for these measures that would make them too expensive to manage. ...........(more)
https://theintercept.com/2015/11/06/ttp-trade-pact-would-give-wall-street-a-trump-card-to-block-regulations/
