Commenting on the notion that sovereign wealth funds represent a threat to the economy, Parr challenged the audience to consider "where we would've been in the country's financial sitituaton if sovereign wealth funds hadn't been there to step in there last November; it would've been Bear Stearns but all over [Wall Street], it would've been chaos."
"We shouldn't be prohibiting this money from coming in," he continued. "When you look at the deals they have made, there are so many constraints on the sovereign wealth funds that there are many ways to do this without a new body of law. Even if they wanted to be active, they can't be just by the terms of the agreements." - George White
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