| Of the five economic proposals Jesse Myerson lists in Rolling Stone, one stands out, though not in a positive sense: that the U.S. start a sovereign wealth fund. It's a proposal that would prove problematic for capital markets, pose thorny conflicts of interest, and offer vast opportunities for cronyism and graft.
According to the World Federation of Exchanges, the market value of all publicly listed companies is about $63 trillion, about $23 trillion of which is listed on U.S. stock exchanges. If a U.S. sovereign wealth fund tried to buy a market-weighted index, it would wind up with more than 4 percent of every publicly traded company in the world...............................................Full Article: Source
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