Mr. Con Horan:

Yes, I mean you're absolutely right in your analysis. I think auditors were going in and ... and let's bear in mind in 2008 auditors were sending in larger teams than normal to do additional analysis of the individual banks, didn't see what was happening. Rating agencies right up to mid 2008 were commenting on, going back to your earlier point, that the banks were reasonably well diversified to be able to handle the problems.