Ms Geraldine Kennedy:

It does, yes. The way it is expressed is that the board owns editorial policy. I gave the Deputy the principles of editorial policy as per the memorandum and articles of association. On an operational basis, it is up to the board to see that they are implemented. I even found this strange myself. In a bit of research I did before coming before the committee, I had somebody go back through all the board reports for the inquiry period of 2002-07 and editorial policy on the financial crisis and the property market. The property bubble, or however the Deputy would like to define it, was never raised or discussed.