Mr. Pat McArdle:

Yes, I think so. I think it's ... sorry I'm not going to argue about this. I toss it out because I was surprised when I saw it in the Honohan report and this is the first opportunity I've had to comment on it since then. I think it's self ... as I said in my thing ... it's self-evident, really, when you think about it, at least that's the way it appears to me that the watchdog, you know, has a sort of a higher moral responsibility, a higher actual degree of responsibility, higher even than the banks I would argue, although the banks obviously and politicians who ran the budget are up there with them, right. But, I think when you look at the order of things ... otherwise why have we got a regulator ... like ... why do we have a regulator at all? I'll leave it at that.