Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay. Staying with the same document, Mr. Parlon, if I can maybe just ... and it refers to your opening statement as well. This report was commissioned by the CIF in 2010 from Lombard Street Research. It was quite critical of NAMA in 2010, and at the bottom end of the page there it says:

NAMA is not intended [as a bank] ... as 'a 'bad bank' but as an asset manager. NAMA is therefore different from the Swedish Securum or the American Resolution Trust Corp[oration], both of which were clearly bad banks, not asset managers".

And then in bold print it goes on to say:

By taking over good loans as well as bad, NAMA actually impairs the banking system's potential recovery. This would be a departure from previous best practice as experienced in other countries [and] It would add to the work load and complexity of NAMA at a time when speed and efficiency are of the essence.

Would you please like to comment upon that this morning, given what you said in your opening statement, which would seem to be at-----