John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Can I ask and I want to put another quote to you, Governor Honohan, your successor, speaking here in the inquiry on 15 January 2015, he stated the following:

What I know from conversations, as far as I understand it, is that he [Brian Lenihan] agreed with the idea of an overall guarantee but he also thought that [two named institutions, which I won't name because I'm afraid ... I don't want to walk you into something] should be nationalised there and then. Just to be complete on it, he also argued strongly not to go down to cover subordinated debt.

Is that your recollection?