Anger is brimming over in diverse corridors over the Bush hangover agreement with Panama, and the new rights it would give to AIG-linked bodies in Panama to sue U.S. taxpayers.
Rep. Mike Michaud (D-Maine) just ran an op-ed in The Hill newspaper explaining what is at stake with the debate around the Panama FTA:
Removing the special investor rights and limits on Buy America and other non-trade policies is essential. But, no FTA should go into effect with Panama until that country eliminates its excessive banking secrecy practices, re-regulates its financial sector and forces banks and multinational subsidiaries to pay their fair share of taxes.
Indeed, the grassroots is pretty peeved about the whole discussion of this deal. Over the last 24 hours, 9,000 letters were sent to Congress to complain about the AIG-Panama scandal that we reported on last week. You too can let Congress know how you feel about AIG pushing a NAFTA-style deal with Panama, by clicking here.
It sounds like Congress is hearing this outrage, with Chairman Charles Rangel (D-N.Y.) of the House Ways & Means Committee putting out a press release yesterday that says:
We should let Congress know that we must also fix the underlying problems with the agreement, such as the provisions granting AIG-linked corporations the right to sue U.S. taxpayers for even more money.