Saturday, March 28, 2015

TPP leak: states give companies the right to repeal nations' laws

[There are still too many people not paying attention to the fact that we are giving all of our rights away to the corporate overlords in this world. Wake the fuck up, America. ---Bozo]
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By Cory Doctorow
1:54 pm Thu, Mar 26, 2015
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A new Wikileaks-published leak from the secretive Trans Pacific Partnership (TPP) treaty reveals a January 2015 draft "Investment Chapter" of the agreement, where the investor-state dispute settlement (ISDS) mechanisms are set out. They allow companies to repeal nations' environmental, health and labor laws. [emphasis added]
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The ISDS work is led by the USA. Under its terms, a treaty-established tribunal would have the power to overrule national courts, and to award millions from tax-coffers to companies who believe that laws undermine their future profits.
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The US Congress is preparing to hand Obama's trade rep fast-track authority to enter into TPP, though the terms of the deal can't be disclosed for at least four years (Congress only just got its first look at the TPP, and the USTR threatened to jail Members if they disclosed its contents to voters).
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