Mr. Tom O'Connell:

I would have ... I would have thought probably around the time when the Bacon reports were called for, that was around 1999. In fact, I remember the Central Bank, in its commentaries at the time, would have been flagging, significantly, property price issues because I can ... I can recollect actually Shane Ross, in the Sunday Independent,talking about the Cassandras in the Central Bank, you know, which sort of means that they're whinging about ... they're crying wolf, if you like. So, back then, I mean, the ... in fact, yes, back then, even before the year 2000, there was a property bubble emerging.