SWFs investment in banks: an alarming trend?
In the wake of the credit crunch banks' capital cushions have deflated dangerously. And, in response, some have turned to one group of investors untouched by subprime credit or by mark-to-market reporting requirements: sovereign wealth funds (SWFs). Avinash Persaud, the chairman of Intelligence Capital Limited, a financial advisory firm, co-chair of the OECD Emerging Market Network and Emeritus Professor of Gresham College, asks is this a good, or a worrying development?
On 26 November, Citigroup
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