My Two Cents

America’s sovereign wealth fund

Chris Farrell Sep 29, 2008

Economist Ed Yardeni points out the the U.S. will now have the world’s largest sovereign wealth fund.

Ironically, the world’s largest state-sponsored sovereign wealth fund will be TARP if and when it is fully funded at $700 billion. And, of course, the US government now owns Fannie, Freddie, and AIG. Unlike other SWFs, TARP is 100% debt financed, so it is really the world’s largest leveraged blind pool.

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