A growing group of experts and policymakers are warning that free trade negotiations could threaten the Dodd-Frank Act and other rules protecting against reckless behavior on Wall Street.
The Administration claims there’s no way trade deals could threaten financial reform – but a recent fact check by Bloomberg News calls that “wrong.” The same fact check says “a number of constitutional scholars and other legal experts” disagree.
If the Administration wants the American people to believe this isn’t an issue, the first step it should take is to make public what lead trade negotiator Michael Froman – a former executive at banking giant Citigroup – has been saying to Wall Street in private.
Click here to tell U.S. Trade Representative Michael Froman: release any emails and other correspondence between you and the biggest Wall Street banks while negotiating the trade deals you say won’t threaten financial reform.
Michael Froman has always been close to Wall Street. He was a top executive at Citigroup before joining the Obama Administration – the same bank that Elizabeth Warren called out, saying “Citi has risen above the others [on Wall Street] in exercising a tight grip over the Democratic Party’s economic policymaking apparatus.”
Then, Froman took a Citigroup paycheck and a more than $4 million golden parachute while he was on Obama’s transition team, doing what he could to place Wall Street-friendly officials into the administration (and often succeeding).