In reality, I believe this will show the actual concern the U.S. has for powerful SWF,s.

http://www.gpo.gov/fdsys/pkg/CHRG-110shrg50364/html/CHRG-110shrg50364.htm

The issue of sovereign wealth funds is a significant one.
The number of these funds is growing. Of the 20 largest, 13
were started since 1990. With foreign currency reserves up 140
percent over just the last 5 years, this trend is likely to
continue.
The size of these funds is also growing. There are now
seven over $100 billion in assets, including Abu Dhabi at $625
billion, Singapore at $215 billion, Norway at $322 billion,
Kuwait at $231 billion, China at $200 billion, Singapore at
$108 billion, and Russia now at $127 billion.
These now dwarf in size the multilateral organizations
designed to be the governing architecture of the global
financial system. For perspective, the International Monetary
Fund now holds assets with a market value of just $76.9
billion. The World Bank has just $40 billion on its balance
sheet.
The number and size of these funds is likely to continue to
grow. This is being driven by the increasing price of
commodities, principally oil, trade imbalances and currency
practices by countries that have the effect of increasing their
foreign currency reserves. These situations show no signs of
abating.
This situation presents the United States with both
opportunities and challenges. It is better for the United
States to have capital invested here to create jobs, improve
our productivity growth, keep interest rates low, and our
standard of living high. But sovereign wealth funds are
inherently different than private investors.
As the Chairman of the SEC, Christopher Cox, recently
observed--and I quote--government ownership of companies and
investment funds poses a fundamental challenge to the market
premise upon which the SEC operates. The lack of transparency
that characterizes many sovereign wealth funds undermines the
theory of efficient markets at the heart of our economic
system. In addition, unlike private investors and their
representatives--pension funds and mutual funds, for example--
government-owned entities may have interests other than and
that occasionally will take precedence over profit
maximization.
Just as the United States has interests in addition to
financial ones, so do other countries. Just as we value some
things more than money, so do they. Why should we assume that
other nations are driven purely by financial interests when we
are not? Or are we?

I hope this hearing, Mr. Chairman, is the first of several
so that we have an opportunity here at the Banking Committee to
examine fully the range of issues that these funds present to
our economy and to our national security.
As you well know, we are entering to a different economic
world where a lot of wealth has shifted from the United States
and from Western Europe to developing countries like China and
the Gulf States.
There are two unique features of sovereign wealth funds, as
I understand it. First is their size. I have been told that
they hold in excess of $2 trillion, Mr. Secretary, now and
could go to $13 trillion to $15 trillion. This is serious,
serious business. Recent trends indicate that these funds will
continue to grow no matter what we do.
Second, sovereign wealth funds are not private investment
vehicles, as what we have traditionally been involved in. They
are government-controlled entities, as the Chairman pointed
out. Government control introduces the possibility that they
may be used for purposes other than their economic return.
For this reason alone, I think it is important to try to
get a basic understanding of the various funds and their
activities and perhaps their objectives. We need more
information on how they are managed, how they are structured,
and the types of investments they make.
We also need to know more about the objectives that I
mentioned behind their investment activities. What is their
motives here? Are they seeking higher returns, as the Chairman
indicated? Are they also being used as a foreign policy tool,
oftentimes maybe in the long run, against our interests.
Is there a role for global financial institutions such as
IMF, OECD, and the World Bank in dealing with these funds?
Finally, what effects can these funds have on exchange rates,
Treasury securities, and the economic health of this country?
We had better know, and this hearing today will get us going in
the right direction.
But we have to remember, because sovereign wealth funds are
only going to increase in asset size and continue to expand
their global reach, this Committee, Mr. Chairman, has a
continuing responsibility to monitor and understand these
unique and growing investment vehicles. If we let this continue
to grow, we will not be in control of our own economic destiny,
as we have in the past.