(Bloomberg) -- Of the five economic proposals Jesse Myerson lists in Rolling Stone, one stands out, though not in a positive sense: that the U.S. start a sovereign wealth fund. It's a proposal that would prove problematic for capital markets, pose thorny conflicts of interest, and offer vast opportunities for cronyism and graft.
The idea has drawn some support from economists, as well as from bloggers such as Dylan Matthews. Although Myerson didnt offer specifics about creating such a fund, Matthews suggested it could start with the holdings of the Social Security and Medicare trust funds, which now own about $3 trillion in government bonds.
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