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Response to Buzz Clik (Reply #53)

Sun Apr 26, 2015, 05:13 PM

64. Fail. You're really showing a lack of knowledge here.

But making Scott Alvarez a household name is child's play compared to Warren's latest fight: whipping up outrage over the Investor-State Dispute Settlement provisions in the Trans-Pacific Partnership deal.

In a Washington Post op-ed today, Warren writes, "ISDS would allow foreign companies to challenge U.S. laws — and potentially to pick up huge payouts from taxpayers — without ever stepping foot in a U.S. court."

Here’s how it would work. Imagine that the United States bans a toxic chemical that is often added to gasoline because of its health and environmental consequences. If a foreign company that makes the toxic chemical opposes the law, it would normally have to challenge it in a U.S. court. But with ISDS, the company could skip the U.S. courts and go before an international panel of arbitrators. If the company won, the ruling couldn’t be challenged in U.S. courts, and the arbitration panel could require American taxpayers to cough up millions — and even billions — of dollars in damages.

Warren goes on to argue that the rules of that arbitration end up favoring corporations both in the complaints that get hard and the decisions that get rendered. Interestingly, this isn't just a liberal crusade: the libertarian think tank Cato has a lengthy brief slamming the ISDS as "an unnecessary, unreasonable, and unwise provision to include in trade agreements" that, among other sins, "is not even essential to the task of freeing trade."

This puts Warren on a direct collision course with the Obama administration: passing the TPP deal is one of their top priorities this year.

So can Warren get people to care about ISDS? Maybe! As my colleague Matt Yglesias wrote in his newsletter last night, Warren "has a unique knack among today's elected officials for seizing on things that are languishing in obscurity and making them blow up. The greatest trick the special interests ever played was getting the world to stop paying attention. Warren makes people pay attention."

http://www.vox.com/2015/2/26/8114291/elizabeth-warren-tpp





A staunch supporter of fair trade, Sen. Warren has been extremely vocal in her fight against “free trade” agreements. She’s rallied against the Korean – U.S. “free trade” agreement (KOR-US) a number of times, and has recently been heard speaking out against the highly secretive Trans-Pacific Partnership (TPP), calling for greater transparency during negotiations. In fact, she has even sent a letter to President Barack Obama’s nominee to head U.S. trade negotiations that detailed her concerns about President Obama’s lack of transparency in the TPP negotiations.

In regards to manufacturing and outsourcing, Sen. Warren believes we need to shift the focus from imports and instead focus on manufacturing American-made products. She believes we must go back to our roots, back to what made America great. That means innovation is key so we can invent and create new products to sell to the rest of the world and aid our ailing economy.

Because she is also a supporter of fair trade, Sen. Warren believes that, to maintain a successful economy, the U.S. must strengthen its trade laws with our trading partners and demand those same trading partners respect workers’ rights and environmental standards.

http://economyincrisis.org/content/elizabeth-warren-and-hillary-clinton




I've got more links if you need them!

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Buzz Clik Apr 2015 OP
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LineLineLineReply Fail. You're really showing a lack of knowledge here.
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