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2016 Postmortem
Related: About this forumHow TPP-Trans Pacific Pack Would De-Regulate Financial Market And Everything Else
http://www.exposethetpp.org/TPPImpacts_FinRegulation.htmlHow the Trans-Pacific Partnership Would Roll Back the Financial Regulations Needed to Avoid Another Crisis
The TPP would provide big banks with a backdoor means of rolling back efforts to re-regulate Wall Street in the wake of the global economic crisis.
The deal would require domestic law to conform to the now-rejected model of extreme deregulation that caused the crisis. The TPP would forbid countries from banning particularly risky financial products, such as the toxic derivatives that led to the $183 billion government bailout of AIG.
The TPP would threaten the use of "firewalls" - policies that are employed to stop the spread of risk between different types of financial institutions and products. While many in the United States have called for a reinstatement of the Glass-Steagall Act, that helped eliminate banking crises for four decades by prohibiting deposit-holding commercial banks from dealing in risky investments, the TPP would bar such reform. The TPP would ban capital controls, an essential policy tool to counter destabilizing flows of speculative money. Even the International Monetary Fund has recently endorsed capital controls as legitimate for mitigating or preventing financial crises.
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How TPP-Trans Pacific Pack Would De-Regulate Financial Market And Everything Else (Original Post)
DhhD
Jun 2014
OP
DhhD
(4,695 posts)1. TISA-Trade In Services Agreement Is A Scheme That Goes Along With TPP.
Enthusiast
(50,983 posts)2. Fuck the TPP.
Union Scribe
(7,099 posts)3. Thanks for the post, that's a great site too. nt