Mr. Tom O'Connell:

At what point did the individual banks create problems for financial stability? At the point where, I suppose, their ... the loan deposit ratio began to get out of hand, and I mean, that was ... if the ... when the loan deposit ratio began to exceed 1, or go beyond that, that effectively meant the banks were overtrading and they were relying on wholesale funding at that point. So that should have been a warning indicator. But even more simple-----