CFIUS Outdate: Sovereign Wealth Funds

The new Foreign Investment and National Security Act of 2007 is already out of date and the regulations under the act have yet to be written.  The threat posed by sovereign wealth funds is not just to "critical infrastructure" or "critical technologies" it is also to our financial markets.  1) If sovereign wealth funds turn from focusing on investor returns to using their funds as a mechanism for implementing a foreign country's foreign policy decisions, then our financial markets will be affected adversely.  2) The injection of reports to individual members of Congress in which districts American companies are located can only be fuel for protectionist behavior by those members.  We need and want foreign capital if the sovereign wealth funds are acting as investors and individual members of Congress ought not be encouraged to get in the way.