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Global Strategic Finance Initiative

Sovereign Wealth Funds: Foreign Policy Consequences In an Era Of New Money

  • By
  • Douglas Rediker,
  • New America Foundation
June 11, 2008

Over the past several months, few issues in international finance have generated as much discussion and comment as have Sovereign Wealth Funds (“SWF”s). This Committee deserves enormous credit for recognizing the potentially significant foreign policy consequences of the rapid accumulation by foreign governments of enormous, growing pools of capital. These large concentrations of government controlled wealth raise complex issues that transcend traditional boundaries between foreign policy, financial markets, international economics and national security.

Financing America’s Infrastructure

June 9, 2008

Today the New America Foundation released a policy paper by Douglas Rediker and Heidi Crebo-Rediker, co-directors of the New America Foundation's Global Strategic Finance Initiative. The executive summary is pasted below. Also, see a PDF of the entire policy paper: http://www.newamerica.net/files/Financing_America_Infrastructure.PDF

Public Comments on the Proposed Regulations On Foreign Investment Into the U.S.

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
June 9, 2008

The Honorable Nova Daly
Deputy Assistant Secretary
U.S. Department of the Treasury

Dear Mr. Daly:

We are pleased to submit these comments with respect to the recently proposed regulations regarding the implementation of the Foreign Investment and National Security Act of 2007 (“FINSA”) amendments to Section 721 of the Defense Production Act of 1950 (“Exon-Florio”).

Financing America’s Infrastructure

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
June 8, 2008

America’s basic infrastructure is outdated, worn, and in some cases, failing. Most experts agree that it is inadequate for meeting the demands of the 21st-century global economy. If we are to remain competitive, we must invest in capital assets like roads, ports, bridges, mass transit, water systems, and broadband infrastructure. Many other countries -- both rich and poor -- see investing in infrastructure as imperative for economic survival and success in an increasingly competitive economic environment.

NY Event: It's the Economic Recovery Plan, Stupid

Thursday, May 22, 2008 - 9:30am

As the debate on the economic slowdown moves from "if" to "when" to "how long," The New School's Schwartz Center for Economic Policy Analysis (SCEPA) and the New America Foundation will host a panel of top economists and business executives to discuss the best plan for an economic recovery.

Space is limited, please RSVP to specialevents@newschool.edu or (212) 229-5662 x 3570.

Douglas Rediker in CongressDaily | 'Sovereign Fund Growth Blurs Traditional Roles'

May 5, 2008

...Combined sovereign wealth reached $3.5 trillion in 2007 -- the largest generator being China, according to the firm. Russia and Kuwait are next. And, according to recent news reports, two other countries with substantial population and/or wealth -- Saudi Arabia and India --are considering setting up sovereign wealth funds.

Doug Rediker in New York Times | Financier Aims to Buy Struggling Small Banks

April 17, 2008

New York Times | Financier Aims to Buy Struggling Small Banks

. . . “For Abu Dhabi to come in and try to cobble together eight different thrifts into a multibillion-dollar deal is enormously complicated,” said Douglas Rediker, co-director of the Global Strategic Finance Initiative at the New America Foundation, a research organization in Washington. “But Wilbur Ross is an active investor who knows how to do this.” . . .

Watching Sovereign Wealth

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
February 28, 2008 |

When the adjectives most often used to describe you are "secretive," "opaque" and "mysterious," you've got an image problem. Such is the predicament of sovereign wealth funds, the government-controlled investment vehicles, often in authoritarian states, that have become the bane of Western politicians. Yesterday, the European Commission became the latest body to propose transparency guidelines for these funds.

But the good news for sovereign wealth funds is that increased disclosure and transparency may actually be a win-win for everyone. A little openness can go a long way.

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