Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Okay. I want to go to, again Vol. 2 of the documents and it's page 86 and it's actually from ... it's from the "Misjudging Risk: Causes of the Systemic Banking Crises in Ireland", and then paragraph 4.3.5. It says however, it talks about:

In the same vein, inspection reports on Anglo during the Period (both in 2004 and 2007) correctly identified a number of more important problems in the bank at the time. However, there is no indication that these internal reports led to either a reconsideration of supervisory practices or serious consideration of regulatory action. Had the FR [Financial Regulator] rigorously enforced its recommendation to improve structures and processes, it is possible that Anglo would have grown its property lending in a more prudent manner.

And it goes on to say that that could also have had an impact on other banks' lending. Do you subscribe to this view that because the Financial Regulator, and the division which you were head of, did not follow up on these issues, that Anglo was allowed to - and I'm paraphrasing here in my view, I'm asking you for a view on this - that Anglo was allowed to continue to grow in a more imprudent manner?