The publication of the long delayed and much leaked cassells report on third level financing is both welcome and depressing. It is welcome in that finally there is a clear and unambigious analysis of the financial mess in which the sector finds itself. It outlines clearly the contribution to economy and society that can be made by a well functioning and well resourced third level sector, and is blunt in the analysis of the need for immediate and ongoing resources. It is depressing in that it took nanoseconds for the old habits of irish policymaking, ideological biases and selective analyses, to emerge. It is also somewhat depressing that the underlying economic analysis of the sector is incomplete. That said, the report is peerless in its analysis of the problems and the immediate and longterm finanial and resource needs. Where I take some issue is with a fundemental and indeed perhaps unknowing assumption.