Mr. Kevin Cardiff:

I know. We would have had to put a lot less money into recapitalising the banks and if we had to put a lot less money into recapitalising the banks, in theory, that would have mean ... meant less need for external support. So that ... that's part of the equation. On the other side of the equation is that it would have become evident quite quickly because we would have been transparent about the valuations, unless we were hiding it - it would have been evident quite quickly that NAMA was sitting on a very large loss, which would sit immediately on the Government's balance sheet. So, instead of having the loss in one pocket of area where the State was supporting, you'd put it in another area where the State was supporting. So it would even out. The only way you could have ... it could have avoided a bailout, you know, precipitation or a worsening would be if we were ... if we had hidden this in some way.