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Sovereign Wealth Funds

Wednesday February 13th, 2008

U.S. Senator Charles E. Schumer (D-NY), will convene the Joint Economic Committee (JEC) to examine increased investment by foreign-government controlled funds, known as sovereign wealth funds.  The hearing entitled, “Do Sovereign Wealth Funds Make the U.S. Economy Stronger or Pose National Security Risks?” will be held Wednesday, February 13, 2008 at 2:00pm in Room 106 of the Dirksen Senate Office Building.  A top Treasury Department official and experts on sovereign wealth investments will offer their views on the benefits and risks associated with investment in the United States by these funds.  Schumer will also ask witnesses for their best recommendations to ensure U.S. economic and national security. 

Opening Statements: Senator Schumer's Opening Statement
  Congresswoman Maloney's Opening Statement
Witnesses: David McCormick, Under Secretary for International Affairs, U.S. Department of Treasury
  Ambassador Stuart Eizenstat, Partner, Covington and Burling, Former Deputy Secretary of Treasury and Ambassador to the European Union
  Douglas Rediker - Co-Director, Global Stategic Financial Initiative at the New America Foundation
Location: 106 Dirksen Senate Office Building
Time: 2:00pm
Press Advisory: Schumer Convenes First 2008 Congressional Hearing on Sovereign Wealth Funds
Watch the Hearing