Who was responsible?
The email comment made by Deborah Wales in the last edition of Peninsula News stating that in 2009 Chris Holstein famously said "we haven't lost one red cent" is relevant.
Most reasonable people agree that this was a stupid statement both then and now.
However, what she failed to say was that the investments were made prior to the GFC in 2008 when Cr Jim Macfadyen was mayor and Labor dominated the council and voted the approval.
She also failed to mention that the person who researched and recommended the investments was director of corporate services Mr Nic Pasternatsky who for some inexplicable reason continues to hold that position.
Email, 25 Jan 2011
Godfrey Franz, Killcare