Apr 15, 2014

Will the TPP feed consumers to the wolves of Wall Street?

Two new trade deals threaten financial protections for consumers, writes ANU College of Law associate professor Dr Matthew Rimmer. The wolves are still at the door of Wall Street.

In the wake of the global financial crisis, there’s been a push by policy-makers for greater regulation of banks, financial institutions and the “wolves of Wall Street”. This was accompanied by a highly visible Occupy Wall Street movement, demanding political and legal reform. But could new trade agreements undermine consumer protection?

Of late, there’s been worry among policy-makers and legislators that Wall Street will use trade agreements and investment clauses to challenge and undermine the framework of financial regulation, to the detriment of consumers and financial stability.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

5 thoughts on “Will the TPP feed consumers to the wolves of Wall Street?

  1. klewso

    Open the gates, let the wolves in – in no time at all, we’ll all be on the pension?

  2. Liamj

    Stock & bond markets are sickly, giddy as a smack addicts with cheap money/quant.easing but increasingly malnourished as ever higher energy & resource costs choke off real productive economic activity and majority of citizens are priced out of consumption. Private capital has already pillaged governments by making them take on their bad debts, now its time to harvest the small fry and more deregulation will make the process easier. The mugs were never going to get to cash out their superannuation, thats not how organised crime works.

  3. CML

    In answer to this article’s headline? Absolutely!!

    And we will all know who to blame if the TPP is signed with the ISDS component still in it – Tony the rAbbott and his motley crew!!

    Why does this decision not have to be voted on by both houses of the federal parliament? The whole thing is scandalous!

  4. bruce prior

    I have this awful sinking feeling that the TPP will be signed lock, stock & barrel, complete with ISDS.
    I see NO mainstream reporting on the issues that the ISDS brings up. Once again the majority of Australia will be kept in the dark until too late.

    See what happens to PBS and “Plain Packaging” after that goes before the tribunal staffed by……… well, do we know who makes the judgements in the “arbitration” process?

  5. Dan B

    @ Bruce – the silence on this subject by the MSM is both deafening and highly concerning. I also fear we will wake up one morning being the TPP’s newest signatory..

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details