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March 15th, 2012 
FAKE NEWS for the Zionist agenda Former prime minister John Howard has joined senior Liberals in attacking the federal government’s rejection of his colleague Peter Costello for the job as chair of the nation’s sovereign wealth fund.
Labor appointed David Gonski to the Future Fund position, despite his advice that the board of guardians preferred Mr Costello, the former treasurer who set up the $90 billion vehicle to manage public servant pension liabilities.
The federal coalition on Thursday sought to paint the appointment as a political one, saying the government had been dishonest and incompetent for failing to elevate Mr Costello, who sits on its board.
But Prime Minister Julia Gillard maintained Mr Gonski was the best person for the job, given his significant track record as a chairman of major Australian companies, like the Australian Securities Exchange and fund manager Investec.
She said it was remarkable that Opposition Leader Tony Abbott was challenging the decision when he and treasury spokesman Joe Hockey and finance spokesman Andrew Robb had issued statements welcoming Mr Gonski’s appointment.
“If the Liberal party wants to repudiate the press releases that the shadow treasurer and shadow finance minister issued and go on a ‘Jobs for Liberals’ campaign, then so be it,” she told parliament during question time.
Mr Costello did not comment on Thursday, despite the numerous government references to his unsuitability for the role, but his former leader Mr Howard said he would have been excellent.
“Clearly his political background would have worked against him, there is no doubt about that,” Mr Howard told reporters in Brisbane.
Mr Abbott took up the theme saying the Future Fund existed only because of Mr Costello.
“I can think of no better person than Peter Costello to manage taxpayers’ money,” he told reporters of the man who was treasurer for 11 years.
Mr Costello established the fund in 2006, with the task of helping the commonwealth meet the cost of public sector superannuation liabilities by profitably investing fund contributions.
The initiative has since been praised for relieving the public servant pension burden on Australian taxpayers, and the fund has become a national investment leader whose decisions are closely watched by financial markets.
Mr Costello was appointed to its board by the Rudd Labor government in December 2009 and he was believed to be a strong contender to replace outgoing chair and former Commonwealth Bank of Australia chief David Murray.
Mr Howard and Mr Abbott were careful on Thursday not to directly criticise Mr Gonski, who is also chancellor of the University of NSW and was a close friend and adviser of the late media mogul Kerry Packer.
Mr Howard said he was not attacking Mr Gonski as an individual but believed the process to pick a new chair was mishandled by the government.
“He’s got a lot of ability but I am certainly attacking the whole shambolic selection process,” Mr Howard said.
“Everyone knew a year ago that David Murray was standing down and they managed to mess up something as simple as that.”
Mr Gonski, who also led the federal government’s recent review of school education, was hired to advise Labor on the views of the seven Future Fund guardians about who should be the new chairman.
Ms Gillard said it would not be right to say the government did no want to work with Mr Costello as chairman, because it was Labor that appointed him to the board.
“David Gonski was the best person for the job and that’s why he was selected,” she told reporters in Canberra.
“The government came to the conclusion that Peter Costello should play a role in the future fund, that’s why we appointed him and he will continue to play that role.”
She said the chair position required “different competencies”.
Cabinet colleague Stephen Conroy was scathing of Mr Costello.
“I tell you what, I’d rather put my money under the control of David Gonski any day of the week ahead of Peter Costello.”
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