The Gillard government has launched a stinging attack on the economic credentials of Peter Costello, deeming the former treasurer is not up to the job of heading up the Future Fund.

Yesterday Labor confirmed David Gonski as the replacement for outgoing chairman David Murray despite reports the overwhelming view of the board of guardians had backed Mr Costello for the job.

Mr Gonski - who recently led the review into the education system - was initially engaged to advise Prime Minister Julia Gillard and Treasurer Wayne Swan to canvass the views of the seven Future Fund guardians - including Mr Costello - about who should be the new chairman.

Climate scientists are concerned that Australia's cool and wet summer [on the east coast] could lead to confusion about whether climate change is real. Picture by Gus Leonisky.

The Pentagon is attempting to quash coverage of its activities by alleging that any reporter seeking classified information is collaborating with the source and guilty of conspiracy to commit espionage, WikiLeaks founder Julian Assange says.

Greg Smith, who ran US equity derivatives trading for Goldman, said the atmosphere at the world's most powerful investment bank was "toxic and destructive" and that the company had to be reined in if it isn't going to destabilise the financial system. In his 12 years at the firm, Mr Smith said, he had witnessed a collapse in moral standards.

from Crikey ….

Barinem Kiobel was executed on November 10, 1995 by the military dictatorship of General Sani Abacha of Nigeria. Almost 16 years later, the U.S. Supreme Court is poised to decide whether Shell, the Anglo-Dutch oil multinational, can be held responsible for his death.

from Crikey …..

People who watched the first series of Yes Minister might remember a fringe character called Frank Weisel, a young man of little apparent promise much loathed by Permanent Secretary Sir Humphrey Appleby. For Humphrey, finding Frank in the minister’s office was like finding an ant in his whisky and soda.

Opposition Leader Tony Abbott has set his sights on government departments, saying he will significantly restrain spending and streamline their operations if he wins the next election.

How amazing. In all Australian television in the past year, only one presenter is so evil that they must be hounded off air.

Well, two actually, but more about me later.

I'm talking, of course, about Yumi Stynes - now the target of a hate campaign by fat-bottomed moralists who offend me even more than she did.

Until Tuesday last week, most Australians did not even know Stynes existed, let alone that she was a host of the Channel 10 morning chat show, The Circle.

But on that fateful day Stynes made a mistake that comes from not knowing much but having much time to fill with babbling.

While the military establishment and the opposition are busy jumping ugly on the Defence Minister, Stephen Smith, a few points have been overlooked.

Kate, the alleged victim of the Skype scandal, is no longer at the Australian Defence Force Academy. Through no fault of her own, her presence there has been rendered untenable and she is back in Queensland trying to continue her fledgling military career.

Of the two alleged perpetrators, one has quit and the other is still at ADFA training to be an officer.