General Discussion
In reply to the discussion: Dear President Obama, Please shut the f' up about TPP rainbows and unicorns... [View all]SomethingFishy
(4,876 posts)The feature of TPP which has outraged the most men and women, one of the few provisions which has become known through leaks by Wikileaks and other avenues, is given the legal term Investor-State-Dispute-Settlement. This is how every dispute will become resolved among the signatory nations and their people. The angering aspect is that corporate tribunals not traditional, neutral, government legal institutions are given the power to make all the legal determinations.
A fellow in the following video gives an example of how this controversial feature of the TPP works. The people of Germany have decided to phase out nuclear power in their country, and a corporation whose business is nuclear energy has sued the German government for over $2 billion dollars for future lost profits. He notes there are 500 similar cases in litigation now. If Vietnam signs on to TPP, the trade bill passes, and down the road the people of Vietnam decide to raise their national minimum wage, corporations will be able to sue the Vietnamese government for lost profits as a result of wage increases.
http://crooksandliars.com/2015/01/alan-grayson-explains-why-we-need-stop