But on a practical level, the growing influence of SWFs really brings up much more basic concerns. What does it mean for Americans to have decisions about our jobs, our home loans, our school loans and so on to ultimately rest with foreign governments? What does it mean to surrender this level of control over our own economy?
The trouble is, we don’t know. And that raises perhaps the most important question of all: What if the cure to our mortgage crisis is more deadly than the disease itself?