Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

You say to us today Mr. Forde:

AIB lending decisions were based on the belief, now obviously mistaken, that long established, experienced scale-players in the property market represented a better risk than smaller less experienced counterparties. They were seen to have had a track record of performance and built up significant equity."

A stunning irony struck me in relation to that, I will ask you to comment upon, that at the end of virtually every advertisement for a bank, is "past performance is no indication of future return." Was that the situation here?