Sovereign Wealth Funds

Does anyone remember a year ago when everyone pundit and media outlet predicted that Sovereign Wealth Funds were going to take over the world? The assets they controlled were growing so quickly due mostly to the commodity boom that it was starting to create hysteria in the United States. It's amazing how quickly the conventional wisdom can change.

From the Financial Times:

"The financial clout of sovereign wealth funds has been savaged by the credit crisis as the value of their assets has plunged and forecasts for their growth have been dramatically scaled back."