Mr. William Beausang:

It would have been in the ether, I suppose, in terms of our own ... own discussions internally. But, you know, you have to rely on the, you know, professional standing and reputation of these organisations and their ability to deal with conflicts of interest. But it reflects a broader issue, I suppose, that ... and to do with failures in our planning, that it was at a very late stage objectively that we were focusing on trying to get that fix on the institutions. And the information that was then available to Government on the night of the guarantee objectively and you will have seen the papers yourself, were ... were quite limited ... or, sorry, and they weren't ... when I say available to the Government, they informed then the Merrill Lynch memorandum, it was a very ... it wasn't a deep dive. And I think that ... that comment, that term cropped up maybe or may have seen it in some kind of ... maybe I didn't, but ... you know ... we needed information and we didn't have information. We had some information but certainly, as events have proved, it wasn't sufficient information.