Mr. Brian Cowen:

I think what it highlights is that in a regulated industry, and one as central to the economic life of a country, the question of proper regulation and proper oversight of these institutions, given the impact they can have on ordinary people's lives, means that we must never, we must by whatever means possible, make sure that this never happens again. And, you know, I can only say that I am very sorry that I was there in government when some of this came to light. In terms of, I've said, "Was I not doubting enough, was I not questioning enough"? I've asked myself, I can assure you, on many occasions, privately, was there anything else that ... what did I miss and why did I miss it, and all the rest of it. But we are ... you know, the situation is that there have been many lessons learned, new institutional arrangements in place, new personnel in place, new legislation in place, a much more rigorous and better regulatory regime now than we had in the past, and there is absolutely no room for complacency, either personal complacency or institutional complacency, in dealing with matters of this vital importance in the future.