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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Plan Only Banksters Will Love: WikiLeaks Reveals Trade Deal Pushing Global Financial Deregulation
Democracy Now talks to Lori Wallach about the newly leaked text of TISA. Similar in concept to the TPP, TISA is not a trade deal but instead more like a de-regulatory power tool benefiting the global financial industry.
Much much more at the link:
http://www.democracynow.org/2014/6/20/a_plan_only_banksters_will_love
Octafish
(55,745 posts)Trade in Services Agreement. Nice. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. Bankster love. And austerity for the rest.
pa28
(6,145 posts)Bankers want ALL of it.
Octafish
(55,745 posts)Truly important stuff, what you found.
WikiLeaked Doc Reveals Wall Street Plan for Global Financial Deregulation
WikiLeaks releases draft text of trade deal exposing efforts to increase stranglehold over global economy
Published on Thursday, June 19, 2014 by Common Dreams
- Common Dreams staff
WikiLeaks published a previously tightly-held and secretive draft of a trade document on Thursday that, if enacted, would give the world's financial powers an even more dominant position to control the global economy by avoiding regulations and public accountability.
Known as a Trade in Services Agreement (TISA), the draft represents the negotiating positions of the U.S. and E.U. and lays out the deregulatory strategies championed by some of the world's largest banks and investment firms.
According to WikiLeaks:
Despite the failures in financial regulation evident during the 2007-2008 Global Financial Crisis and calls for improvement of relevant regulatory structures, proponents of TISA aim to further deregulate global financial services markets. The draft Financial Services Annex sets rules which would assist the expansion of financial multi-nationals mainly headquartered in New York, London, Paris and Frankfurt into other nations by preventing regulatory barriers. The leaked draft also shows that the US is particularly keen on boosting cross-border data flow, which would allow uninhibited exchange of personal and financial data.
TISA negotiations are currently taking place outside of the General Agreement on Trade in Services (GATS) and the World Trade Organization (WTO) framework. However, the Agreement is being crafted to be compatible with GATS so that a critical mass of participants will be able to pressure remaining WTO members to sign on in the future. Conspicuously absent from the 50 countries covered by the negotiations are the BRICS countries of Brazil, Russia, India and China. The exclusive nature of TISA will weaken their position in future services negotiations.
Lori Wallach, director of Public Citizen's Global Trade Watch, said the deal described in the draft, if approved by national governments, would be a disaster for any regulatory efforts designed to put a check on global finance.
In a statement responding to the TISA draft released by WikiLeaks on Thursday, Wallach said:
If the text that was leaked today went into force, it would roll back the improvements made after the global financial crisis to safeguard consumers and financial stability and cement us into the extreme deregulatory model of the 1990s that led to the crisis in the first place and the billions in losses to consumers and governments.
"This is a text that big banks and financial speculators may love but that could do real damage to the rest of us. It includes a provision that is literally called standstill that would forbid countries from improving financial regulation and would lock them into whatever policies they had on the books in the past.
_______________________________________
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License.
SOURCE: http://www.commondreams.org/headline/2014/06/19-2
Thank you for a very important OP, pa28! As it stands to further shuffle wealth from the middle classes into the pockets of the rich and super-rich, TISA represents another, major nail in the coffin of democracy.
BrotherIvan
(9,126 posts)That billion dollars they spend on campaigns? Worth every penny.
Uncle Joe
(58,481 posts)Thanks for the thread, pa.
cadaverdog
(228 posts)Suddenly Obama is discovering all sorts of things he can do by simple Presidential fiat that will make us feel warm and fuzzy about the President "we wish we had" rather than the one who has disappointed so many of us for the past four plus years. Why do I feel a "Keep your eyes on the bright shiny object I hold in my hand...(and ignore what's going on behind my back)" moment coming on? If Obama feels TPP, and now TISA, are so important to the future of our Country, then why doesn't he make the case to the American public and respond to the criticism of their detractors, rather than trying to covertly "fast track" legislation through the Congress?
As for me, I hope to hear from the likes of Paul Krugman, Elizabeth Warren, Bernie Sanders, and others who have proven their bona fides for the American middle class.
And thank our lucky stars for Amy Goodman.
pa28
(6,145 posts)Showcasing financial regulation in public while secretly negotiating international deregulation that will gut those very same laws speaks to how corrupt our system has become.
riderinthestorm
(23,272 posts)BIG K&R!
navarth
(5,927 posts)....but I'm sure a swarm will come along and tell me why I shouldn't pay attention because Assange.
kicking this for visibility.
navarth
(5,927 posts)I've never like that statue. This is the first time I saw something positive come out of it; some biting humor.
Sports Illustrated Magazine donated the money for this 'statue' to the City Of Detroit as a way of 'honoring' Joe Louis.
Yeah, that's right, visiting White Folks. Welcome and help yourself to a big black fist in your face. And on top of that, it reduces Joe Louis to a usage of one of his body parts. FUCK that.
There's a really nice statue of Joe Louis at Cobo Hall. That would be a much more fitting tribute and wouldn't act like tourists were being punched in the face.
My city will get justice eventually.
Sorry for the diversion.
CrispyQ
(36,547 posts)You're right - it would have been a much better tribute.