America is about to make a horrible mistake all over again

[Hoyt]

112. Well, you kind of miss one important point -- the state can sue the corporation in their own courts.

That is likely a better way to handle that. If the state couldn't use its own court system, you guys would be saying they force the state to sue in a tribunal run by "international corporate lawyers."

The ISDS is designed to make sure an investor doesn't get trampled by a state's court in an effort by the state to treat the foreign corporation unfairly under trade laws or outright expropriate their company assets.

States agree to the ISDS because they want companies to invest in their country. If they were viewed as an overall negative, the states would not agree to the dispute mechanism.

The tribunals have been in over 2500 trade agreements since 1959. It's not something new.

Before being certified to use the ISDS system, the corporation must show that its case indicts it may have been treated unfairly by the state, especially compared to the state's corporations. Think South Carolina placing a special tax on a BMW plant that it doesn't levy on other auto manufacturers. If the state changes environmental laws that apply to everyone, it is highly unlikely a corporation would get anywhere under the ISDS.

And before you go saying the tribunals are run by "corporate lawyers," go read a few. Law professors are often the arbiters because international law is complicated. Each side appoints one of their choice and it doesn't have to be an attorney, and then they agree on the third. And the arbitration is under United Nation rules.

I don't see how things could be fairer. And Obama is tightening up the process to prevent frivolous lawsuits, and other problems.