Wednesday, September 7, 2016

Over 200 Legal, Economic Scholars say TPP & ISDS Threatens Rule Of Law

"Frontal Attack" on Law and Democracy

"Today's letter from top legal experts makes clear: ISDS undermines the American judicial system and tilts the playing field further in favor of big multinational corporations"



More than 200 legal and economic scholars—including President Barack Obama's Harvard Law School mentor Laurence Tribe—have penned a letter to Congress warning that the pro-corporate Investor-State Dispute Settlement (ISDS) regime enshrined in the Trans Pacific Partnership (TPP) "threatens the rule of law and undermines our nation's democratic institutions."
NYCourts.gov

As ISDS "threatens to dilute constitutional protections, weaken the judicial branch, and outsource our domestic legal system to a system of private arbitration that is isolated from essential checks and balances," the academics urge (pdf) lawmakers to reject the TPP, despite the Obama administration's full-court press to pass the trade agreement during the upcoming lame-duck session of Congress.

The signatories—who also include Nobel laureate Joseph Stiglitz, former California Supreme Court Justice Cruz Reynoso, and Columbia University Professor and UN Senior Adviser Jeffrey Sachs—note that concerns they outlined in a March 2015 letter opposing the inclusion of ISDS provisions in the TPP and other multinational trade deals were ignored. 
In fact, they write, "the final TPP text simply replicates nearly word for word many of the problematic provisions from past agreements, and indeed would vastly expand the U.S. government's potential liability under the ISDS system."
The letter continues:
Read a lot more at www.commondreams.org

2 comments:

  1. Agreements don't mean anything tangible when ya get down to it.

    Avoid agreements, global collusions between states.

    ReplyDelete
  2. This comment has been removed by a blog administrator.

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