Trade agreement trumps financial reregulation (undermine state insurance reg)

blue97keet

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Thu Apr-29-10 07:00 PM
Original message

Trade agreement trumps financial reregulation (undermine state insurance reg)

Buried in the 1200-page Senate financial reregulation bill we found a sneaky provision that would undermine existing state insurance regulations � including on solvency � if they conflict with trade agreements! Yup, the �Office of National Insurance� (ONI) proposal would newly empower the Treasury Department to unilaterally determine that existing consumer protections violate international agreements and then preempt such states policies.

Thankfully Senator Jeff Merkley (D-Oregon) is leading the effort to defang this crazy proposal. The "Merkley Amendment" would fix this. Senator Merkley deserves our thanks � and help! Please take action today!

http://www.citizen.org/Page.aspx?pid=3257&frcrld=1

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lumberjack_jeff

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Thu Apr-29-10 07:14 PM
Response to Original message

1. The supremacy clause

Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding.

We don't have to like it.

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blue97keet

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Thu Apr-29-10 07:32 PM
Response to Reply #1

2. Actual treaty or "executive order" ?

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lumberjack_jeff

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Thu Apr-29-10 09:02 PM
Response to Reply #2

3. Trade agreements such as NAFTA and WIPO are treaties. n/t

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