Created on Sunday, 17 June 2012 23:38
Written by Democracy Now!
Breaking '08 Pledge, Leaked Trade Doc Shows Obama Wants to Help Corporations Avoid Regulations
by Democracy Now!
A draft agreement leaked Wednesday shows the Obama administration is
pushing a secretive trade agreement that could vastly expand corporate
power and directly contradict a 2008 campaign promise by President
Obama. A U.S. proposal for the Trans-Pacific Partnership (TPP)
trade pact between the United States and eight Pacific nations would
allow foreign corporations operating in the U.S. to appeal key
regulations to an international tribunal.
The body would have the power
to override U.S. law and issue penalties for failure to comply with its
ruling. We speak to Lori Wallach, director of Public Citizen’s Global
Trade Watch, a fair trade group that posted the leaked documents on its
website. "This isn’t just a bad trade agreement," Wallach says. "This is
a 'one-percenter' power tool that could rip up our basic needs and
Guest: Lori Wallach
, director of Public Citizen’s Global Trade Watch.