A new financial player has emerged on the international finance scene. Known as Sovereign Wealth Funds (SWFs), these state-controlled investment vehicles, fueled largely by record oil profits, are having a big impact on the U.S. economy and beyond. To help our nation respond to these new actors in international finance, I have established a bipartisan Task Force on Sovereign Wealth Funds with Rep. Tom Davis (R-VA) to explore these issues.
