Huh, ineffective? If anything, they're effective alright. Maybe not exactly for the realm's best interests, but they do work quite well.
You mean embezzlement, right? Are you *seriously* arguing for the existence of a council position just because it can steal gold? That's pretty friggin' lame. Just pass a watered-down version to ambassadors, if you think someone really ought to have such a power, as it alone is not in any way justification for the position to exist imo.