The Vultures are at it again: 'Ticking Time Bomb': Corporate Lawyers Openly Discussing Suing Nations Over Profits Lost to Covid-19 Measures
Cold Mountain TrailParticipant
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Prominent corporate law firms representing major businesses in the United States, Italy, Spain, and other nations are openly discussing the possibility of companies using a secretive and notorious legal process to sue countries over future profits lost due to government efforts to combat the coronavirus pandemic.
On Monday, the non-profit research group Corporate Europe Observatory (CEO) documented numerous examples of high-powered corporate law firms—including Ropes & Gray, Alston & Bird, and Quinn Emanuel Urquhart & Sullivan—publicly licking their chops over the lucrative opportunity presented by the Covid-19 crisis and government attempts to fight it.
Ropes & Gray wrote in an alert on its website on April 28 that “for companies with foreign investments,” the investor-state dispute settlement (ISDS) system enshrined by thousands of trade agreements across the world “could be a powerful tool to recover or prevent loss resulting from Covid-19 related government actions…”
CEO noted that the ISDS system hands “sweeping powers to foreign investors, including the peculiar privilege to sue states in an arbitration court system.“ The ISDS chapter of the Trans Pacific Partnership was one of the most widely denounced components of the 12-nation trade deal that was ultimately never ratified by the U.S. Congress…
What do these people live for? I can’t fathom it.
May 21, 2020 at 12:13 PM #317625PunxsutawneyModerator
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I was talking with my wife the other day about our local rep here in Oregon who my wife thinks is “liberal” and pointed out that she was an enthusiastic supporter of TPP which contained the ISDS at the time. She had a hard time wrapping her mind around the fact that lawsuits like this can in fact happen (Treaties Supersede) and then the article was posted hours later.
I’ll never forgive Obummer for pushing this crap, and having the gall to chide those of us protesting it.
In America, “Liberty” means “Free to Die in Service of Capital” - Amfortas the hippie
May 21, 2020 at 5:49 PM #317693
May 21, 2020 at 7:08 PM #317695GZeusHParticipant
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I think we should be openly discussing giving these corporate lawyers a haircut.
May 21, 2020 at 7:21 PM #317697
May 21, 2020 at 7:24 PM #317698jwirrParticipant
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And how is that going to help anyone but the richest?
May 21, 2020 at 7:49 PM #317702retired liberalParticipant
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Why? Because thy don’t have all the money yet.
We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
If you are wrong, it will be because you are not cynical enough.
Both major political parties are special interest groups enabling each other for power and money, at the expense of the people they no longer properly serve…
May 21, 2020 at 8:40 PM #317714salemcourtParticipant
- Total Posts: 1,345
Meanwhile, CNN is playing Trump’s “magical thinking” on Corona virus and asking people not to inject themselves with whatever………..
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