Blogs & Comment

Mr. Denison goes to Washington

David Denison, the CEO of the Canada Pension Plan Investment Board, testified before two congressional subcommittees yesterdayalong with representatives of sovereign wealth funds from Singapore and Norwayand urged Congress to reconsider calls for protectionist regulations the Board considers a threat to free flow of capital.
Denison also reiterated the CPPIBs stance that it should not be considered a sovereign wealth fund because of its independence from government, and because it invests the funds of Canadian pensioners, not government money. He went on to point out that the CCPIB model could be the solution to balancing fears that sovereign wealth funds are bringing up, and the wishes of countries looking to diversify holdings and invest outside of their own borders.
You can read Denisons full remarks here.
With all of the anti-free trade talk going on amongst the Democrats, and even some Republicans, it will be interesting to see if the politicians are convinced by his pleas.