Mr. Con Horan:

-----I mean, the ... the view ... the macroeconomic view at that stage was that the economy was still in good ... good shape or at least should come through it. The GDP-GNP was going to continue to grow and the macroeconomic view was that even the commercial property sector, etc., was holding up despite the problems elsewhere. I'm not an economist myself so I have to rely on the economists to give me that sort of information, but that was ... that was their analysis around that period of time.