Mr. Patrick Neary:

I'm sorry, Senator, if I may have taken you up the wrong way and I apologise for that. I believe that in setting out my statement today that I should emphasise some of the actions taken by the authority because I believe comprehensive studies have been taken ... have been carried out by Professor Honohan and Professor Nyberg and ... Watson and Regling ... in those reports, that clearly cover the failings of the principles-based system, the failings of the regulator. I mean, they are all set out for everybody to see and I felt that in my statement that I should just give the counter argument to those to get some balance into it. That's all. There is no ulterior motive and I'm sorry if you feel that, you know, I didn't give enough focus on the downside.