I think another report that should be looked at is the MacIntosh report. Professor Jeffrey MacIntosh wrote it in March of this year in commentary to the Jenkins report. One of the things he talked about was whether or not direct investment was really the way to go. His studies would indicate that even very sophisticated investors have a very difficult time in getting it right and picking the right winners. Whenever governments play the position of making direct investments, they are investors, and I don't think we have much hope of them ever making as good decisions as the market will make.
