Mr. Tom O'Connell:

Well I suppose anyone in a senior position in the Central Bank, yes, has to take some responsibility, you know, even though I felt we were headed for big trouble ... 2001-2002. And, in fact, I wouldn't have been the only one because the Government had requested the three papers from Peter Bacon to look into what could be done about the ... the property price boom. Yes, so, anybody in a senior position in ... in the regulator or the Central Bank has to take responsibility. So, I mean, the whole thing was wholly avoidable in my view. It was unnecessary.