Mr. David Doyle:

Well, it's a viewpoint that maybe an intervention ... there was, there was no evidence being produced by, by the banks themselves that an intervention was necessary or appropriate. There was no analysis from the regulator or the Central Bank that an actual intervention was necessary. There was stand-by arrangements being pushed through that consultative process with the bank and the regulator and the Department to prepare for an event, an event in the future. The event hadn't crystalised. Possibly, if you had stepped forward with an announcement at the time that the Government was going to stand behind the banks and provide capital, that might have calmed the market down. But the reality ... like what the real problem was that when it came to the crunch and the problem was created by the explosion increase, explosive increase, in credit rolled out by the banks - when it came to the crunch, they assets that they had lined up, particularly on the development side weren't remotely near worth what their loans that they should ... for those assets.