Mr. Kevin Cardiff:

Well, because it ... this was a failure. There, there ought to have been better information. Why ... but it's not the case that nobody examined ... if you, if you ... you recall, and you know from your previous witnesses that there was a whole system, with a Financial Regulator, with stress tests, with examinations, with external bodies and so forth, doing that work. And, we believed ... were led to believe that the regulator had a good picture of the banks under its remit, that reasonable loan loss stress testing had been done, that the banks were regarded as solvent, resilient, capable of withstanding significant shocks and we accepted that. And we stopped accepting it at the beginning of September when, when we had the Nationwide issue and it became clear that in fact, this general sense of how the banks were being run wasn't, wasn't being backed up by very specific data.