The Real Trouble with Sovereign Wealth Funds

There is lots of buzz these days about sovereign wealth funds, so I just want to register an inane complaint. Why the hell are these large government-owned pools of money called sovereign wealth funds, or, worse yet, SWFs? The name is multi-syllabic and opaque, with it almost stupidly obvious that they were designed by financial politicos to disguise their purpose, rather than describe the darn things.


  1. It lends itself to a tracking ETF. Half kidding.