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Elizabeth Warren fires back at Obama: Heres what theyre really fighting about
Key Excerpts from Article on Website of Washington Post
Posted: May 17th, 2015
http://www.washingtonpost.com/blogs/plum-line/wp/2015/05/11/...
This week, the Senate will vote on whether to grant Obama fast track authority to negotiate the TPP agreement, which involves a dozen countries around the Pacific. [Senator Elizabeth] Warren has previously claimed that the TPPs controversial Investor-State Dispute Settlement provision, or ISDS, could undermine or chill public interest regulations in the U.S. and other participating countries, and could even undercut Dodd Frank financial reform, one of Obamas signature achievements. Obama has strongly rejected Warrens arguments in [an] interview with Yahoo and elsewhere. "The president said ... that hes confident that when people read the agreement for themselves, that theyll see its a great deal. But the president wont actually let people read the agreement for themselves, [and] has committed only to letting the public see this deal after Congress votes to authorize fast track. At that point it will be impossible for us to amend the agreement or to block any part of it without tanking the whole TPP." Senator Warren went into more detail: Congress will decide whether to give the President Fast Track authority. That authority would prevent Congress from amending trade deals and reduce its ability to block trade deals ... for ANY trade deal cut by ANY president over the next six years. Big banks on both sides of the Atlantic are gearing up to use that agreement to water down financial regulations. A six-year Fast Track bill is the missing link they need to make that happen.
Note: Senator Warren's opposition to the TPP is further explained in this Washington Post article. Former U.S. Secretary of Labor Robert Reich and many others are also vocally opposed to the TPP and how this pending disaster is being pushed through under a veil of secrecy with little public debate.
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