Mr. Con Horan:

Well, yes, I ... the market and the way the market was going ... the levels of growth in the market, I was not comfortable with. The immediate issue that we needed to deal with I felt was the residential ... the high loan-to-value ratio loan, but in the paper I put forward in February 2006, I also signalled to the authority at that stage that we were going to look at the commercial property sector as well.