The House Committte on Foreign Affairs held a hearing this morning on sovereign wealth funds. For an alarmist view, there’s Gal Luft here, for a benign view there’s Edwin Truman here, and for an informative view there’s Gerard Lyons here. I found it interesting that regardless of whether the goal was to alarm, to reassure or to inform, the testimony of all three witnesses converged on the same general recommendations: more transparency, a code of best practices, and continued vigilance. As an aside, the funds that grouped into the Low Transparency-Highly Strategic Investment Approach quadrant in one of Lyons’ charts were from the UAE, Qatar, and China.
