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jsr

(7,712 posts)
Sat Oct 26, 2013, 11:16 AM Oct 2013

Another Reason to Hate TPP: Investor-State Dispute Settlement (ISDS)

https://www.eff.org/deeplinks/2013/10/another-reason-hate-tpp-it-gives-big-content-new-tools-undermine-sane-digital

Like the rest of the TPP, we only know what has been leaked. Based on that, it seems the negotiators are poised to give private corporations new tools to undermine national sovereignty and democratic processes. Specifically, TPP would give multinational companies the power to sue countries over laws that that might diminish the value of their company or cut into their expected future profits.

The provision that gives them this power is called “investor-state dispute settlement” (or ISDS for short). The policy was originally intended to ensure that investments in developing countries were not illegally expropriated by “rogue” governments, thereby encouraging foreign investment. But what began as a remedy to a specific problem has since been co-opted to serve very different purposes. Under investor-state, if a regulation gets in the way of a foreign investor’s ability to profit from its investment, the investor can sue a country for monetary damages based on both alleged lost profits and “expected future profits.” There are no monetary limits to the potential award.

Apparently a country’s own courts can’t be trusted to administer this kind of lawsuit, so investor-state also requires the creation of a new court. It would be comprised of three private-sector attorneys who take turns being judge and/or corporate advocate.

Even if this kangaroo court ruled in favor of the defendant nation, court costs alone would scare countries from adopting (or enforcing) pro-user policies where they might potentially inhibit investor profits. The investor-state tribunal bills its time by the day and decides for itself how many days to work, so it can rack up as many days of work they want. Given this system, it's then no surprise that current investor-state court costs average about 8 million dollars per case. So even if it wins, the country has to pay those court fees, the lawyer fees, plus compound interest. That’s money that would doubtless be better spent elsewhere.

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Another Reason to Hate TPP: Investor-State Dispute Settlement (ISDS) (Original Post) jsr Oct 2013 OP
Yep, this is the MOST problematic of all the stuff that's been leaked....... socialist_n_TN Oct 2013 #1
food libel, too MisterP Oct 2013 #9
I Agree, Sir: This Is 'Corporate Sovereignity', And It Is An Abomination The Magistrate Oct 2013 #2
Well said, Sir. nt bemildred Oct 2013 #3
+1 fishwax Oct 2013 #4
k/r marmar Oct 2013 #5
Kick, and hope people start protesting against this. senseandsensibility Oct 2013 #6
And they talk about how entitlements are a problem. bemildred Oct 2013 #7
This Horrible Bill Needs to Get Included In The National Dialogue colsohlibgal Oct 2013 #8
Facism in its purest form. Brewinblue Oct 2013 #10
Recommend.. My fear is this abomination will get rammed through KoKo Oct 2013 #11
So K&Red, this and so-called reform are the Big Issues we should be talking about. Egalitarian Thug Oct 2013 #12

socialist_n_TN

(11,481 posts)
1. Yep, this is the MOST problematic of all the stuff that's been leaked.......
Sat Oct 26, 2013, 11:25 AM
Oct 2013

Everyone should realize that labor laws protecting the ability to organize would probably be culpable under this particular provision. And that's just the MOST obvious. What about "libeling" a international by exposing corruption? That's going to interfere with profit making too.

This provision would institute world-wide fascism as Mussolini defined it. Corporations and governments as one.

The Magistrate

(95,726 posts)
2. I Agree, Sir: This Is 'Corporate Sovereignity', And It Is An Abomination
Sat Oct 26, 2013, 11:26 AM
Oct 2013

No investor has any right, repeat any right, to profit from an investment, and any claim he has is absolutely without foundation in law, custom, history, or even economic theory. Laws, regulations, possible changes in them, acts of governments and rulings of courts are simply some of the factors people must calculate and try and anticipate when investing, and if you gauge these wrongly you are supposed to lose your money! That is how the thing works, how it is supposed to work, how it always has worked.

"The trouble with our modern corporations is they have neither souls to be damned nor bodies to be kicked."

senseandsensibility

(18,567 posts)
6. Kick, and hope people start protesting against this.
Sat Oct 26, 2013, 11:49 AM
Oct 2013

I'm calling my reps to begin with. There must be more we can do.

bemildred

(90,061 posts)
7. And they talk about how entitlements are a problem.
Sat Oct 26, 2013, 11:52 AM
Oct 2013

They think they are entitled to a profit. Brave entrepreneurs.

colsohlibgal

(5,276 posts)
8. This Horrible Bill Needs to Get Included In The National Dialogue
Sat Oct 26, 2013, 12:23 PM
Oct 2013

The fixation of news and too may citizens is on shiny objects while this egregious bill that will negatively impact regular folks hums along in the background. Even so called progressive big media is asleep at the wheel.

KoKo

(84,711 posts)
11. Recommend.. My fear is this abomination will get rammed through
Sat Oct 26, 2013, 03:36 PM
Oct 2013

just before Christmas Recess when attention is focused on the Dec. 15, Bicameral Party Report on the Budget and Debt Ceiling. There will probably be some horrors in that report that will have everyone's attention covering over the "Fast Track Authorization Vote" where just the Senate needs to vote on TPP and not include the House.

Hope I'm wrong about this.

 

Egalitarian Thug

(12,448 posts)
12. So K&Red, this and so-called reform are the Big Issues we should be talking about.
Sat Oct 26, 2013, 04:12 PM
Oct 2013

And I'm more than a little suspicious that the so-called reform is really just a smoke screen for this monstrosity. It is impossible to understate what a terrible thing this treaty is.

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