NSA Spying, Tax Fraud Join Trade Debacle

Although the horrendous TPP (“Trans Pacific Partnership”) pact is the most pressing global trade story here in the U.S., the current round of the TPP’s European cousin (aka TAFTA) is taking the cake in Belgium for sheer entertainment value. At the core of both pacts are sweeping new corporate rights and privileges, like the investor-state system. That little gem allows corporations to sue governments in foreign tribunals for taxpayer compensation of any domestic policy they claim undermines their “expected future profits.” Take a minute and sit with that last sentence until it really sinks in. Developing nations seeking commercial relationships with the…