To better insulate the U.S. from state-sponsored investments that might used as foreign policy tools, a Treasury Department official says the agency will make use of newly strengthened oversight powers as well as international agreements. Lawmakers are concerned about the explosive growth of investment funds directed by foreign governments and the possibility that the funds' investments in this country could pose national security risks or run counter to U.S. interests.
November 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
To better insulate the U.S. from state-sponsored investments that might be used as foreign policy tools, a Treasury Department official says the agency will make use of newly strengthened oversight powers as well as international agreements.
“At Treasury, we have been increasingly focused on sovereign wealth funds for more than a year now,” Under Secretary for International Affairs David H. McCormick told the Senate Banking Committee.
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