by frog
Ten years after the “Battle in Seattle”, Greg Palast confronts Director-General of the World Trade Organization, Pascal Lamy, on just how little has changed.
Published in Economy, Work, & Welfare by frog on Mon, December 7th, 2009
Tags: derivatives, greg palast, Pascal Lamy, WTO
on the trolls and those who are unable to keep on topic
yah. Provide your reasons please. One would think...
From what I could read on this Lamy loses Palast on assertions alone..Which invites several questions, not least:—
1. what derivatives is lamy referring to.. OTC or private??
2. what does “toxic” – he does iterate this word a lot – mean to Palast..?
In regard to the first (1) we should properly want to know whether the WTO promotion of derivative products that, presumably, aid “interdependence” is corporate good/s or individual good/s.
In regard to the second (2) what can palast add to calls for regulation..?
For myself I’d ask just why and for whose benefit certain futures tradeables – minerals, energy, foodstuffS(I this latest has been added) are deemed regulation free. The toxic-to-daily-and-staple-activities-worldwide ramifications – ie speculative pricings etc – are known. Given the back record why are ‘regulators’ allowing them dictate their own regulatary and trading standards..?
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oops! missed the word ‘think’ after I in the brackets, final par.
Don’t blame me, blame the affine—it is an utter dataswine and I can’t get out of it.. that is until it’ s entirely run through..
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God this interviewer Pascal is depressingly uninformed.
Could those who don’t know what derivatives are please stop calling them “toxic” and “evil”? Especially those who live in a trading nation like New Zealand?
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Thanks for posting, Frog.
Way to celebrate 10 years of independant media reporting
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small further point arising.. should a nation’s trade negotiators (ie NZ) being promoting trade deals in order to solely advance the SERVICES sector then, since derivatives have been the darlings of financial markets(ie services), a good deal more clarity would be beneficial..
Illustration: why are enzed so very keen to push trade bilaterals (as mentioned above contemporary WTO alignments have been assumed) with whatever ‘asian’ economies they can.? Are they not otherwise aware of a likely China capital fall off..
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