Mr. John Hurley:

I have to say I was surprised at his comment. The ... none of the international institutions who were looking at the banks in Ireland saw it that way. The auditors didn't see it that way. The rating agencies didn't see it that way. What we did in our ... in our overall financial stability reports ... we simply pointed out the risks.

The risks were there, but to actually move from that into something concrete is a journey that I'm not sure that the evidence is there to support.