Thanks for the very interesting item, Tom Clark.

Since the day the Higher Education Endowment Fund was announced, I have been wondering what its longterm impact would be. Such detail as is provided, by Ross Gittins in the SMH article you cited, strongly suggests that the EEF is business as usual:

"He [Peter Costello] made it clear that the money in the endowment fund would be invested in shares and securities in just the same way as the Future Fund, administered by the "guardians" (what a title) of the Future Fund. So, in practice, the endowment fund is just a subdivision of the Future Fund."

Who are these guardians of the EEF? What motivates them or for that matter constrains them in their investments? What industries and sectors of the economy are supported?

How can we be convinced that EEF (and Super Fund)investment is not supporting environmental unsustainable activities in Australia and abroad? Are there any federal government guidelines or criteria which at least indicate preferences in investment types? If so, are they pertinent to our current environmental concerns?

All very well to invest in the future, but if the EEF and Super Fund investments degrade the global environment for the sake of our economy, then I wonder about the vision of our current treasurer.

Is Peter Costello really much better than Mr Magoo? I can imagine him swivelling his double-barreled, finger on the trigger, shrieking "Where are Those Wascally - - - -