Sunday, June 22, 2014

Big Banks Blackmail US

There is far too much mechanical speculation in our financial system. It's an area ripe for taxation - in part because when speculators lose big, they shelter from creditors via political interventions (as in the 2008 bailout).

Unfortunately, big finance has too many politicos on their payroll. Efforts to impose a modest financial transactions tax have been cruelly stifled.

Now big finance hopes to impose the Trade in Services Agreement (TISA) around the world, without public debate. We should never be bound by a secret treaty created by industry and unaccountable officials, perhaps well-meaning but likely corrupt. This horrible treaty seeks to hobble us, serving the financial sector in dozens of ways, while putting the industry beyond regulation, and leaving no ability to renegotiate a new world order. Disgusting!