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To: carranza2 who wrote (69729)	6/21/2008 2:20:52 PM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

Weird. Brazil wants its SWF to invest in Brazilian companies. That's like stuffing your 401K with your own employer's stock. This is a notion we've had to fight off repeatedly since the inception of the Alaska Permanent Fund. The latest was an attempt by our former governor to siphon off $5 billion to invest in the Alaska Natural Gas Pipeline. Brazil Fund to Help Stem Currency Rally, Mantega Says bloomberg.com Mantega said Brazil was the 36th nation to create a wealth fund. Unlike China and Singapore, which have put money into stocks of foreign companies, the Brazilian fund would buy debt of Brazilian companies expanding overseas. `Hidden Subsidy' ``This goes against the whole philosophy of sovereign wealth funds that seek to diversify risk,' said Claudio Loser, former director of the Western Hemisphere department at the International Monetary Fund, in an interview from Washington. ``It sounds more like a hidden subsidy to Brazilian businesses.'