Mr. Patrick Neary:

I most certainly am, and I ... I regret that very much, there is no doubt, but the system did fail, and that the warnings from the Central Bank, that came out in the area of financial stability were certainly not strong enough. Now, having said all that, I mean, just to defend the position of the Financial Regulator, not to defend it but to explain it, Senator, I mean, we ... we had a heightened awareness in relation to the level of residential mortgage growth, and, in fairness to some of my colleagues, and they were here yesterday, I think, they did outline some of the initiatives that were taken, and, you know, that were put forward by, by the former prudential director in relation to mortgage credit. And also, on ... the authority took action on the consumer protection side, expecting banks to ... to carry out what they called a stress test to make sure that there was affordability at two and a half, 2.75% above the ECB rate, etc. So we were doing our bit, in that sense, at an individual bank level, but ... you know, I take your point here that what was coming out in the FSR, despite all of these indicators, wasn't strong enough.