FEC to review GSF losses
Sunday, November 3rd 2002, 12:04PM
It is absolutely vital that parliament gets to the bottom of why the Authority foolishly gambled over $1 billion on the sharemarket, at a time when most super funds were trying to back out of the casino economy," he said.
Donald said the financial review will be an embarrassment to the Government because it highlights the fact that the fund had made money throughout its history until Labour decided that the $3.4 billion fund had to be taken out of Government bonds and invested off shore.
"I must admit that at first the Government was not keen on this financial review, but in the end was persuaded that my request was reasonable, especially under the circumstances."
This is a press release from Greens co-leader Rod Donald.
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