Sovereign funds are accepted loudly by the econocaste. The economics professor will point out their value, mark you wrong for trying to be “fair”. What he calls protectionist. Legislatures are lobbied to permit Sovereign funds to invest in the Wall Street firm of their choice. Journal articles point out that we are being childish not to accept the Sovereign fund money. They even tell us this is our own money come home. Nothing to fear here.

SWFs are
government-owned investment funds, set up for a variety of macroeconomic purposes. —IMF Feb 2008

So, if the US were to invest in its own companies as a Sovereign Fund, why wouldn’t that be okay? Instead, we hear from WSJ, “The Economist,” CATO, etc., that the TARP is the end of the world. Maybe it is a change to their world, but certainly not of the world. Not your world, nor mine. I have always lived in the world that knows all economies depend on external air to live.

Maybe they would be happier if we named their pacifier the US Sovereign Fund, instead of TARP