Mr. Cormac McCarthy:

I'm not familiar with the particular context that you describe, but I think what has happened in Ireland has been so searing in the public consciousness and the impact it's had on people in the banking sector, I certainly don't think in my lifetime that we're likely to see anything emerge again. History tells us that cycles repeat themselves and that history tells us that people always believe that they've learned from history and therefore they're destined never to repeat it and that may be the ultimate flaw. But I would say that, as regards the particular circumstances of what happened in Ireland in the banking sector, for the very ... for the foreseeable future, Chairman, I do not see any risk of that occurring.