Gee whiz! It could come good

Chris Holstein's interview on the ABC's 7.30 Report was an embarrassment to ratepayers.

Sounding like a punch drunk boxer, the mayor trotted out the same old lines from Gosford Council's ongoing press releases that no loss occurs on council's ill-fated CDO investments until they are sold.

Yes, he admitted the auditors have forced them to concede that they are $39 million under water at the moment, but gee whiz they could come good at any time.

The question Mr Mayor is who authorised council to gamble with $100 million it held on trust for ratepayers?

Warren Cross, Wagstaffe Point