Wednesday, September 07, 2016 by Vicki Batts
It’s no secret that the Trans-Pacific Partnership, better known as the TPP, will be disastrous for America. Forged under the guise of free trade, the partnership is truly anything but. Indeed, the deal will do very little for the average American citizen. The TPP is not, and was not, crafted with average people in mind. Instead, it was designed to benefit elitist moguls so they can consolidate, grow and protect their wealth.
One of the most questionable and sinister parts of the TPP is known as the “investor-state dispute settlement system,” or ISDS for short. This gem will help the rich by eliminating sovereign risks from their investments, allowing them to increase their wealth simply by looking for ISDS opportunities and seizing them. It will also allow them to escape prosecution for criminal behavior on a global level – which is perhaps one of the most ridiculous and disturbing aspects of the entire plan. Just that one aspect alone ensures that the wealthy elite can essentially exempt themselves from the laws of “regular” people. In other words, these people are trying to form a modern-day global oligarchy.
The frequency of the ISDS being used to protect corporate interests is already on the rise; what will happen when it is a key component of the TPP? This secretive “superior” court system is downright appalling. You see, this system allows businesses to sue entire countries if local or national laws infringe upon their profits. While the ISDS has existed for years, the TPP would expand it and increase its use. You know who that ends up hurting? Innocent, law-abiding people.
As noted by The Huffington Post, “[The] ISDS has increasingly become a way for rich investors to make money by speculating on lawsuits, winning huge awards and forcing taxpayers to foot the bill.”
Not to mention that the ISDS has also been used to protect corporate interests over the interests of the citizens. Buzz Feed News has uncovered several detestable and nefarious uses for ISDS. For example, the news site has reported: “In El Salvador, a court found that a factory had poisoned a village — including dozens of children — with lead, failing for years to take government-ordered steps to prevent the toxic metal from seeping out. But the factory owners’ lawyers used ISDS to help the company dodge a criminal conviction and the responsibility for cleaning up the area and providing needed medical care.”
And of course, that is just the beginning. There are hundreds of these kinds of cases that have been hidden from the public eye, and it’s only going to get worse. This is why big business is pushing so hard for the TPP. With expanded use of the ISDS, they will be able to do just about anything they want and get away with it.