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Wikileaks: TISA Pact Would Deregulate Financial Services

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Wikileaks: TISA Pact Would Deregulate Financial Services
Image from: teamster.org

What would happen without Wikileaks? We don't know how current these Trade In Services Agreement documents are, of course, but it's a hell of a lot better than knowing nothing:

WASHINGTON -- The latest trove of secret trade documents released by Wikileaks is offering opponents of the massive deals currently being crafted by the Obama administration more fodder to show that such agreements can impact United States laws and regulations.

The latest leak purports to include 17 documents from negotiations on the Trade In Services Agreement, a blandly named trade deal that would cover the United States, the European Union and more than 20 other countries. More than 80 percent of the United States economy is in service sectors.

According to the Wikileaks release, TISA, as the deal is known, would take a major step towards deregulating financial industries, and could affect everything from local maritime and air traffic rules to domestic regulations on almost anything if an internationally traded service is involved.

The pact would be one of three enormous deals whose passage through Congress could be eased with passage of Trade Promotion Authority, also known as fast-track authority. The Senate has passed fast-track, and it could be taken up in the House this month.


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