Mr. John Beggs:

No, when I joined AIB in 1992, I joined ... I thought I was joining AIB, I joined the capital markets division and it took some time for me to realise that I was in a division and not in a ... in one bank, which of course is what has happened to AIB in recent years, with a unified banking model put in place. I discovered this in relation really ... the relationship between the retail bank and capital markets division, that people from treasury were, you know, that they were utilised by the retail bank but the retail bank made its own decisions. I mean Nyberg refers to this about the siloed nature of AIB in particular in relation to the issue of transferring loans from the ... from the sectoral teams in retail ... the retail division to elsewhere, to be managed in a different way. I think that was a limitation, you know, I have to say we produced the research in treasury. A bit like the way in which Mr. McArdle's research was produced, we were a bubble, if I can use that phrase, a unit that had a great deal of independence. The research went to the retail bank, but it sort of ... it was accepted by them but having a role in terms of pursuing an issue that you had really wasn't, you know, really wasn't possible. They ... I'm not saying they didn't listen, but I am just saying that you didn't have any management role in relation to the decisions.