Reply #24: Even after the global meltdown, the WTO is still pushing countries to take on our Derivatives. [View All]

[Overseas]

I didn't realize how important the WTO has been in pushing banking deregulation internationally. Even after the global financial meltdown, the WTO is still pushing countries to accept derivatives and other toxic assets.

Ecuador, for example, has been told that if it wants to export its bananas to the USA (its main customer) it will have to accept some of our Derivatives, or face tariffs on its bananas as a penalty for refusing to "liberalize" its financial system.

Lula's Brazil had the power to refuse to accept any of our toxic assets and their economy is doing much better than others.

Here are Mike Papantonio and Greg Palast discussing WTO 2009 :

http://www.youtube.com/watch?v=A0z-RrG8xws&feature=related Part 1

http://www.youtube.com/watch?v=JGTH-9yvb4E&feature=related Part 2