Stop TPP, Stop the SOE Invasion
Not a lot of people on Main Street paid much attention when Singaporean investment firm Temasek Holdings celebrated the opening of its U.S. office with a grand soirée on June 27, 2014, at midtown Manhattan’s famous Waldorf Astoria Hotel. But the titans of Wall Street surely paid notice. Goldman Sachs CEO Lloyd Blankfein was there. As were Black Rock CEO Larry Fink, JPMorgan Chase CEO Jamie Dimon, and Kohlberg Kravis Roberts & Co (KKR) chairman Henry Kravis — along with hundreds of other denizens of the investment-banking world.
Temasek, a sovereign wealth fund with a reported $179 billion in assets, is Singapore’s top State-Owned Enterprise (SOE). Over the past few years, Temasek has been acquiring stakes in U.S. companies, such as investment firm Merrill Lynch, life-sciences company Thermo-Fischer Scientific, biopharmaceutical producer Gilead Sciences, alternative-energy firm Clean Energy Fuels Corp., and shale-energy firm FTS International.
Sitting on the board of directors at Temasek is Robert Zoellick. Yes, the same Robert Zoellick who, as George W. Bush’s trade representative, engineered much of the so-called Free Trade Agreement (FTA) agenda, including the Trans-Pacific Partnership (TPP) — before getting promoted to chief at the World Bank, where he funneled an estimated $300 billion to various regimes commonly referred to as “developing nations.” (Much of that, of course, was taken by force by the U.S. government from the American taxpayers to fund our FTA “partners.”)
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