To: President Donald Trump, The United States House of Representatives, and The United States Senate
Stand with Senator Warren: Don’t let the Trans-Pacific Partnership (TPP) Weaken Wall Street Reform
Ready for Warren
We agree with Senator Elizabeth Warren’s concerns about the Trans-Pacific Partnership (TPP) Trade Deal currently being negotiated behind closed doors—no trade deal should gut the safeguards designed to protect our economy and prevent a future financial crisis.
Why is this important?
The Trans-Pacific Partnership (TPP) is a trade deal currently being negotiated between the United States and 11 other countries in Asia and the Pacific. If finalized, it would be the largest trade deal in history.
In a letter to U.S. Trade Representative Michael Froman, co-signed by Sens. Tammy Baldwin and Edward Markey, Elizabeth Warren warned that the deal could allow foreign companies to challenge United States financial regulations designed to prevent another financial crisis.
They wrote: "Including such provisions in the TPP could expose American taxpayers to billions of dollars in losses and dissuade the government from establishing or enforcing financial rules that impact foreign banks. The consequence would be to strip our regulators of the tools they need to prevent the next crisis.”
Warren has also spoken out forcefully against the secretive nature of the negotiations behind the deal being written by lobbyists from America’s biggest corporations and Wall Street’s biggest banks.
Speaking at Public Citizen, Warren said, “From what I hear, Wall Street, pharmaceuticals, telecom, big polluters and outsourcers are all salivating at the chance to rig the deal in the upcoming trade talks. So the question is, ‘Why are the trade talks secret?’... I actually have had supporters of the deal say to me ‘They have to be secret, because if the American people knew what was actually in them, they would be opposed.’”
Sources and more information:
http://www.huffingtonpost.com/2014/12/18/elizabeth-warren-trade-deal_n_6350312.html
http://www.washingtonpost.com/politics/elizabeth-warren-other-democrats-raise-concerns-about-free-trade-pact-with-asia/2014/12/17/19de1c48-8632-11e4-b9b7-b8632ae73d25_story.html
http://www.commondreams.org/news/2014/12/18/senator-warren-takes-tpp
http://www.warren.senate.gov/files/documents/TPP.pdf
In a letter to U.S. Trade Representative Michael Froman, co-signed by Sens. Tammy Baldwin and Edward Markey, Elizabeth Warren warned that the deal could allow foreign companies to challenge United States financial regulations designed to prevent another financial crisis.
They wrote: "Including such provisions in the TPP could expose American taxpayers to billions of dollars in losses and dissuade the government from establishing or enforcing financial rules that impact foreign banks. The consequence would be to strip our regulators of the tools they need to prevent the next crisis.”
Warren has also spoken out forcefully against the secretive nature of the negotiations behind the deal being written by lobbyists from America’s biggest corporations and Wall Street’s biggest banks.
Speaking at Public Citizen, Warren said, “From what I hear, Wall Street, pharmaceuticals, telecom, big polluters and outsourcers are all salivating at the chance to rig the deal in the upcoming trade talks. So the question is, ‘Why are the trade talks secret?’... I actually have had supporters of the deal say to me ‘They have to be secret, because if the American people knew what was actually in them, they would be opposed.’”
Sources and more information:
http://www.huffingtonpost.com/2014/12/18/elizabeth-warren-trade-deal_n_6350312.html
http://www.washingtonpost.com/politics/elizabeth-warren-other-democrats-raise-concerns-about-free-trade-pact-with-asia/2014/12/17/19de1c48-8632-11e4-b9b7-b8632ae73d25_story.html
http://www.commondreams.org/news/2014/12/18/senator-warren-takes-tpp
http://www.warren.senate.gov/files/documents/TPP.pdf