Posted by: zanshin, 2008-09-02 04:19

Statement
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Date: 2008-01-24 (Thursday)
"It's the premise of capitalism that people own shares to maximize value. But if you think of an investment made by a state fund, there could be multiple motives. Perhaps we want the airline to fly to our country, perhaps we want the bank to do extensive business in the country, suppose we want suppliers in our country to be sourced, perhaps we want some disablement of a competitor for our country's national champion. When there's no assurance that value maximization is not being pursued, there is a potential question."
-- Larry Summers, former USA Treasury Secretary, in panel of World Economic Forum, Davos






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