Economic Issues

#BREAKING: Wall Street Owned Congressman Seeks Disastrous Free Trade Agreement with Turkey

Congress is now considering, yet another, disastrous free trade agreement, thanks to Congressman Mooney (R-WV).

On June 29th, the representative whose 3rd highest campaign contributor is Franklin Templeton Investments, introduced HR 3146; "A bill to direct the United States Trade Representative to initiate negotiations with the Government of the Republic of Turkey to seek to enter into a bilateral free trade agreement with Turkey."

As Public Citizen reported in 2012, "Since NAFTA was enacted, bankers have gotten much more aggressive in their attempts to block regulation through trade deals. For example, the Korea FTA, passed by Congress in October [2011], included [harsher prohibitions] on financial sector regulations than NAFTA. On top of that, the [World Trade Organization restricts] policies on capital controls, bans on risky financial services, size limits on banks and ‘firewalls’ between banking and investment services.”

What could a Congressman from West Virginia stand to gain from a free trade agreement with Turkey? Well, when that Congressman's 3rd highest contributor is an investment bank, with offices in Turkey, who regularly hires lobbyists, that Congressman stands to gain money. Lots of money to help banks fight back against regulation.

And, on top of allowing banks to continue to fight regulation with even greater ease, a free trade agreement with Turkey would only further threaten our domestic textile, food production, and automobile industries.

Why should we let a bought politician from West Virginia, with a 0% foreign affairs rating by the World Report on Middle East Affairs, guide us on our trade relations with Turkey?

The only answer is, we shouldn't. We should fight this bill, and any other  disastrous free trade agreements that we may encounter in the future.

What do you think about this legislation?

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#Turkey #USHouse

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