Sovereign funds investing big in US companies-but government doesn't know where
Posted by Editor on October 06, 2008 at 10:53 PM
Financial Week reports that, “Sovereign wealth funds have invested a good chunk of their assets in U.S. companies, spending more than $43 billion from January 2007 through June 2008. But many of those investments are not disclosed and indeed are only loosely tracked by U.S. agencies, according to a study published today by the Government Accountability Office.”
US Congresswoman Sue Myrick calls for GAO audit of SWF investment in United States
Posted by Editor on April 24, 2008 at 05:53 AM
As part of her Wake Up America agenda, unveiled last week and designed “to alert, and educate, Americans to terrorist threats here at home posed by radical Islamic extremists,” US Representative Sue Myrick is proposing “to call on the Government Accountability Office to conduct an audit to verify the total sovereign wealth fund investment in the United States.”
Let’s see if she manages to get any SWFs in a figure four leglock.
US Congress gauges reaction of other countries to rise of foreign government funds
Posted by Editor on March 03, 2008 at 06:46 PM
The Associated Press reports that, “As members of Congress monitor investment in the United States by foreign government-run funds, they are investing time in studying how foreign governments do it. A congressional watchdog agency, the Government Accountability Office, studied how other countries handle foreign investment, including investment by sovereign wealth funds and other state-owned companies. The GAO’s study, released Friday, found that six out of 10 countries surveyed have expressed concern recently about sovereign wealth funds.”