Ms Mary Burke:

What I mean is the sort of supervision that I suppose we have now, the sort of supervision that comes with the SSM. It means people who are experts in lending, in treasury, in risk management being able to sit across the table from the banks and deal with them on their own level, on their terms, on the issues. We simply didn't have that sort of support system in place. Most, I think, regulatory authorities probably would have. I think the FSA at the time had a specialist support team, and we do have that sort of a team now. It's the sort of ... as banking ... it's an extremely complicated industry. It's not something that you can have a general knowledge of all of these things. You can have that knowledge but I don't think you can expect a supervisor with that level of general knowledge to argue the issue with the director of lending of an institution and tell him why you believe his policies and his decisions were the right ones or the wrong ones.