Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

But Mr. Neary, what we know from your testimony this morning is that the measures to introduce higher risk ratings for residential mortgages came very late in 2008 and on commercial property loans into 2007. I mean, we have testimony here that consistently, and I think Mary Burke gave it yesterday afternoon and others did, that by 2006, the game was over. It didn't matter how many staff that she had in her office and so forth. So, why were your office so late in coming to the table when credit growth had soared in all the years since 2002, with a very short disruption in 2001 and 2002?