Mr. Brian Cowen:

Well ... well, what I was saying, as a parliamentarian ... as a Government, in terms of the laws of the country, we ... I think the most important thing we could do was bring forward that Act that, sort of, improved, in my opinion ... and learned from the experience of what had happened ... about what we needed to do to make sure the Central Bank was fully integrated. And I refer to the fact that in February '09 I had looked at ... I had suggested that we needed to get to the ... use the Canadians as a model. It was the best model that I could see where there was a good regulatory culture, an effective regulatory system in place. Regarding the question of resourcing the regulator and getting more people in, certainly that was needed, given that what we had seen, and, as I say, the funding for that wasn't dependent on the Exchequer, the funding for that could be generated from within the balances of the Central Bank itself and a contribution from the financial services industry. So, you know, that ... so, I'm saying the most important thing we could was the legislative reforms. I'm not suggesting that the personnel reforms that were brought in and the ... it wasn't also important, of course it was, because we learnt from the Honohan report about the number of people on the front line that were actually doing the regulating. It surprised a lot of people.