Thematic Photographic 254 - Signs of the times
Lots of signs, cops, trouble. Not unusual for this spot.
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Living With Zest
6 minutes ago
Of course there is no reason the deals have to be complicated. If the trade deals focused on removing traditional trade barriers such as tariffs and quotas, there would not be "a zillion different interests and moving parts." There would be some formulaic wording written into the agreement that specified the rate at which these restrictions would be pared back.Note: The Wonkblog post was written by Lydia DePillis, not Ezra Klein. However, I wanted an excuse to put up this youtuber.
The reason there are a zillion moving parts is because the Obama administration went to the oil and gas industries to ask how they can use the trade agreement to get around environmental restrictions on drilling. It went to the food and agricultural industries to ask how they could get around food safety rules. It went to the pharmaceutical industry to ask it how it can use these deals to increase patent protections and jack up drug prices. It went to the entertainment industry and asked how it can use these deals to strengthen copyright enforcement and require Internet intermediaries to take responsibility (and incurr expenses) to help enforce copyrights.
As head of the Securities and Exchange Commission for the past four years, Mary Schapiro failed to win a major civil action against any Wall Street executive connected to what may be the worst financial fraud in history, the subprime-mortgage scam that led to the 2008 crash.~
As head of the Justice Department’s criminal division for the past four years, Lanny Breuer failed to accomplish the same with criminal action. And now both are headed back over to the other side: deep-pocketed firms that earn their keep largely from Wall Street. In Schapiro’s case, that’s Promontory Financial Group, which advises financial firms on regulation; in Breuer’s, it’s Covington & Burling, a major law firm that defends financial clients.