Elizabeth Warren: Obama Trade Deal Could Undermine Wall Street Reform

by Lauren Weber, Huffington Post, 4/22/15

WASHINGTON — Sen. Elizabeth Warren on Wednesday warned that a major trade deal being negotiated by the Obama administration could hamstring Wall Street reform efforts.

Warren raised the issue in a letter to U.S. Trade Representative Michael Froman, which was also signed by Sens. Tammy Baldwin (D-Wis.) and Ed Markey (D-Mass.). The correspondence highlighted a broadening rift between President Barack Obama and the progressive wing of the Democratic Party over economic policy, less than a week after Warren and Obama squared off over a budget deal that provided government subsidies for risky derivatives trading.

“We are concerned that the Trans-Pacific Partnership (TPP) could make it harder for Congress and regulatory agencies to prevent future financial crises,” the letter reads. “With millions of families still struggling to recover from the last financial crisis and the Great Recession that followed, we cannot afford a trade deal that undermines the government’s ability to protect the American economy.”…

continue reading at Huffington Post

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