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Global Strategic Finance Initiative

Do Sovereign Wealth Funds Make the U.S. Economy Stronger or Pose National Security Risks?

  • By
  • Douglas Rediker,
  • New America Foundation
February 13, 2008

By way of introduction, I spent most of the last seventeen years working as an investment banker and private equity investor based primarily in London, England. This experience, I believe, gives me a somewhat different perspective on Sovereign Wealth Funds and the role that they play in today’s international capital markets. Currently, I co-direct the Global Strategic Finance Initiative at the New America Foundation. The New America Foundation is a non-profit, post-partisan public policy institute in Washington D.C.

Doug Rediker in AP | 'Foreign Investments Spur Concern on Hill'

January 15, 2008

Foreign Investments Spur Concern on Hill (AP article appearing in Forbes and BusinessWeek)
The flow of funds from overseas could bolster the U.S. dollar, and sovereign wealth funds are the type of long-term investors that can stabilize the financial markets, said Doug Rediker, co-director of the international finance group at the New America Foundation. ...

Mission Accomplished

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
November 15, 2007 |

Perhaps it's time to add the European Bank for Reconstruction and Development to that list of things that, like houseguests and fish, can overstay their welcome. The bank now strays so far from its original remit that it risks spoiling the legacy of its earlier successes. The EBRD should quit while ahead, declare victory and be privatized.

Douglas Rediker in CQ Weekly on Sovereign Wealth Funds

November 4, 2007

Last week, the New York hedge fund Och-Ziff Capital Management disclosed that it was selling a $1.3 billion ownership stake to an investment firm controlled by the government of Dubai. In September, another Dubai-controlled fund announced that it was buying about a fifth of the Nasdaq stock exchange. A Chinese government bank just entered into a partnership with the investment bank Bear Stearns Companies Inc. And the Blackstone Group private equity firm recently sold a $3 billion ownership stake to China's state investment company.

Doug Rediker and Heidi-Crebo Rediker Highlighted in National Journal

November 3, 2007

Remember the slogan about Bill and Hillary Clinton in the 1992 presidential race -- two for the price of one? The New America Foundation seems to be getting something similar with the hiring of husband-and-wife tandem Douglas Rediker and Heidi Crebo-Rediker (although they'll both get paid at the think tank). The Redikers, former investment bankers in Europe, have returned to the United States to co-direct the foundation's Global Strategic Finance Initiative. The couple met in Washington about 20 years ago.

Washington Post Quotes Doug Rediker on Sovereign Wealth Funds

October 30, 2007

The government of Libya, flush with oil, has amassed $40 billion and is ready to put it in play on Wall Street. China recently acquired a huge stake in one of the biggest names in U.S. finance. Tiny Qatar is adding $1 billion a week to its investment coffers and is trying to buy the leading grocer in Britain.

New America Foundation Launches Global Strategic Finance Initiative

October 18, 2007

The New America Foundation is pleased to announce its launch of the Global Strategic Finance Initiative. The Initiative, co-directed by Douglas Rediker and Heidi Crebo-Rediker, is sponsored by the Economic Growth Program and American Strategy Program.

Inside Track: The Financialization of Foreign Policy

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
October 17, 2007 |

Over the first half of 2007, central banks in the world’s emerging economies accumulated over $600 billion of new reserves. That’s double the total reserve position of the International Monetary Fund (IMF) -- an institution whose mission used to include preventing the collapse of these same governments, and whose new managing director recently raised questions about the body’s “relevance and legitimacy.” Over the same period, China, Russia and Japan joined the list of governments establishing “sovereign wealth funds”, whose worldwide assets now approach $3 trillion. The U.S.

Foreign Investment and Sovereign Wealth Funds

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
October 3, 2007

The amount of money now held by governments around the world both in reserves and through sovereign wealth funds (“SWFs”) represents the largest concentration of investment capital the world has ever known. Their sheer size and expected rate of growth raise important issues regarding both the origin of this wealth and how it is to be invested. The origin of these funds rests on two main factors: the global imbalances between debtor nations (like the U.S.) and surplus nations (like China), and the rise of state-owned commodity (oil) funds.

Capital Warfare

  • By
  • Douglas Rediker,
  • Heidi Crebo-Rediker,
  • New America Foundation
March 29, 2007 |

With Iraq, Afghanistan and the war on terror dominating headlines in Washington these days, there's a real danger that U.S. policymakers will lose sight of the other major war currently being fought around the world -- the war for capital. While other countries are fighting with all they've got, many in the U.S. remain complacent, indifferent or antagonistic. Big mistake. There's a clear relationship between global financial leadership and global influence, and if history is any guide, Americans can't assume that today's financial powerhouse will be tomorrow's.

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