DW: Turkey's Erdogan names himself head of state wealth fund
Turkish President Recep Tayyip Erdogan has put himself in charge of a $40-billion state wealth fund that he said failed to reach the "desired" goals. His son-in-law, Finance Minister Berat Albayrak, serves as deputy.
Turkey Wealth Fund, the state-backed financial entity which owns nearly half of Turkish Airlines and other stakes in over a dozen large companies, is now headed by President Recep Tayyip Erdogan, according to the country's Official Gazette.
The value of the fund is estimated at $40 billion (€34.4 billion), and can be used to maintain pensions and welfare systems in times of crisis or to finance major projects.
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WNU Editor: Here is an easy prediction. They are going to use it as their slush fund to loot.
