Mr. David Doyle:

Well, I might just finish. At the top of page 114 you have a statement from Merrill Lynch, "It is important to stress that at present, liquidity concerns aside; all of the Irish banks are profitable and well capitalised." Now, in the case of Anglo, that night they had run out of liquidity. And a bank that runs out of liquidity is on borrowed time. If it can't meet its obligations, that will become known very fast. Liquidity, being the available ... cash available to it, would simply disappear. People would start pulling out funds and, very rapidly, an illiquid bank becomes an insolvent bank. So, what I definitely felt ... that if their lack of liquidity continued, they would rapidly become insolvent. Now, if ... if ... there was certainly a concern about the ... the business model and-----