Thursday, December 20, 2007
Sovereign wealth funds (SWFs) are increasingly in the headlines as they provide the cash for troubled US financial institutions, Morgan Stanley being the most recent example. Should we be worried about foreign political involvement in these businesses? The IMF is working on a code of best practices for SWFs, and the Organization for Economic Cooperation & Development is preparing a code for the recipients of the investments. Both are expected to be released in preliminary form next spring. WSJ, Wanted: SWFs' Money Sans Politics.