future fund & telstra, page-3

I do not think we need commission of inquiry, the facts arbe e pretty well known IMO.

When the Howard government established the FF, they gave it all its remaining TLS shares to kick it of. They intended to kick in budget surpluses in following years but it never happened. Libs lost and there were no more surpluses mainly due to GFC, I would say.
AS far as I know and can wrong, nobody else gave FF any real money, although they may be collecting the super contributions of the members. Maybe the government is putting in the required Superannuation Guarantee, the compulsory 9% that every employer suppose to contribute.
But it would not surprise me if they did not, after all they never bothered before. Previously the Commonwealth Public Servants super contributions went to consolidated revenue and then the retirement pensions and lump sums also were paid from that.

Now, Future Fund did not think it was good idea to own so many Telstra shares and proceeds to divest itself of them, investing the proceeds across the board in Australia and abroad, to achieve the appropriate mix they though prudent for a super fund.

FF never accounted for TLS losses arguing they would never buy that many shares in the first place and so they can not be held responsible for any losses on TLS stock.

So one could argue that the TLS SP drop was really due to the inability of our politicians to understand how the market and super funds operate, one could say they could not see on the tip of their financial nose.

Now if you want to throw good taxpayers many after bad and have a commission to tell you all this, feel free to contact your local member. My report is free and I think pretty much what you could expect to hear from inquiry IMO.