Louie_Louie
7 일 전
MY take on this soverign wealth fund so far is, it is a vehicle for government to invest (for the American people), government should not be allowed into skewing markets with their financial muscle, whether through CONservatorships or wealth funds. They should not be allowed to invest in anything, for anyone, including taxpayers. Like most things, it starts out with the old familiar tag line "for taxpayers" and good intentions, but as we have witnessed numerous times throughout history, governments good intentions with taxpayers always ends up costing us much more later on. The road to hell is paved with good intentions .
Democrats, if they can not stop this, they will for sure be working on a plan TODAY to use this fund to their benefit and to the detriment of the American taxpayer if they ever get control again. Until they prevent executive orders, or unless they require a 75% vote of congress and the Senate, plus presidents signature to do anything with this fund, and also immunize it from any presidential exec order other than extreme emergency, this is a house of cards, in my honest opinion. Half the soverign wealth fund countries are above board, the other half corrupt as hell, so having a soverign wealth fund does not uncomplicate anything, on the contrary. Having one here in our country becomes to enticing a chunk of monetary power for a government that has seen serious corruption these last many decades.
The devil, as always, is in the details. I am not a fan by any means of letting government invest in markets and pick winners and losers, this is a recipe for disasterous outcomes...UNLESS you can fully mistake proof, corrupt-proof, pork-proof, criminal-proof, partisan-proof, and Democrat proof the way it is structured and it's bylaws, it will be taken advantage of by the firstgroup of partisan lawyers that start picking their way through the bylaws, just as they did with the GSE's charters.