According to Andrew Samwick, the world’s central banks are too big to behave rashly. As he puts it: "We’re too big an economy, and our creditors’ portfolio holdings are simply too large for them to …

Jesse Eisinger has a nice Long and Short column exploring CNOOC’s bid for Unocal in the Wall Street Journal. I liked this quote from Lehman’s Ethan Harris:The Cnooc bid "strikes people that we really…

with money the Treasury borrows from China?  Ok, China, Russia and Saudi Arabia ... The answer so far has been yes.   The Pentagon - or at least influential voices in the Pentagon - want to discoura…

There is something about SAFE -- maybe the fact that its full name, the State Administration of Foreign Exchange, seems to come straight from the Ministry of (Bureaucratic) Magic --  that seems to in…

Sovereign wealth funds have invested about $35b in US financial institutions. Adding in Qatar’s investment in Barclays and Singapore’s investment (through the GIC) in UBS brings the total up sover…