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Lori Wallach, director of Public Citizen’s Global Trade Watch, author of "The Rise and Fall of Fast Track Trade Authority" and former Truthdigger of the Week, explains the meaning of a secret draft text of the Trade in Services Agreement, a proposal that would forbid signatory countries from improving financial regulation within their borders.

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A 1997 memo retrieved from the filing cabinet of investigative reporter Greg Palast shows the involvement of Lawrence Summers -- Obama's current favorite for chairman of the Federal Reserve -- in a successful plan to help big bank CEOs "rip apart financial regulation across the planet."

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It's not the first time that objections have been raised over the kinds of values promoted, whether explicitly or implicitly, by media products hailing from the general vicinity of Hollywood, but this time the issue concerns a whole country taking on a major international commercial coalition: China and the World Trade Organization, respectively.

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