10.12.2008 - Who's Saving Now?
From Thenational.ae: The era of the sovereign wealth fund appears to be behind us. With falling export revenues for manufactured goods and oil, SWFs will now be tapped to finance fiscal stimulus and/or financial sector bailouts over the next couple of years. Brad Setser at the Council on Foreign Relations makes the point that their apparent losses (roughly 40 per cent on assets) put to the lie the notion that they were ever a stabilizing force in global markets, instead buying into booms and now being forced to sell in a crunch..... Full Article: Source