Mr. Tom Considine:

Well, Deputy, it depends on what you mean by alarm bells. The financial stability reports do recognise these risks. The problem, with the benefit of hindsight, is that the evaluations that were done didn't suggest that the outcome could be anything like what was ... what was ... what eventually happened. If you read the financial stability report, say of 2005, I mean, the risks are set out. I referred to them in my opening statement. But the judgment that was arrived at really was that these could be explained to a great extent by what was happening in the real economy. It was, as I said, I don't want to repeat it again, but, yes-----