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WASHINGTON, D.C. – Rep. Jim Moran, D-Va., and Rep. Tom Davis, R-Va., founding members of the House Task Force on Sovereign Wealth Funds, issued the following statement regarding today’s House Financial Services Joint Subcommittee Hearing entitled: “Foreign Government Investment in the U.S. Economy and Financial Sector.”
Statement is as follows:
"As founding Members of the Task Force on Sovereign Wealth Funds, we look forward to working with Chairmen Gutierrez and Kanjorski on this emerging issue.
"With our bipartisan Working Group made up of members from Leadership, as well as the Appropriations, Oversight and Government Reform, Budget, Foreign Affairs, Ways & Means, and Financial Services Committees, our intention is to serve to provide a comprehensive understanding of these complex issues and to provide input to each of the relevant committees of jurisdiction. We hope to open this important conversation to as many Members as possible.
"With the amounts of money involved and the potential effects on our financial markets, it seems critical that many sets of eyes focus on this challenge. As our economy struggles and our dollars become petrodollars at every visit to the gas pump, we all have a vital stake in seeking a safe means to reinvest those dollars back into our own struggling economy. Thus it is vital to understand the complexities, dangers and opportunities presented by foreign investment and government-owned enterprises.
"We look forward to working with members of the committees and others to gain understanding on how to balance our economy's need for foreign investment with the transparency required for our national security."
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