Michael D'Arcy (Fine Gael) | Oireachtas source

Can I ask you, Mr. Cowen, if you scroll ... if you turn to the next page of that document please, half way down, last paragraph before summary description. And Merrill Lynch say, "It is clear that certain lowly rated monoline banking models around the world, were there is concentration on a single asset class (such as commercial property) are likely to be unviable as wholesale markets stay closed to them." Did you expect that you would be nationalising either one or two financial institutions in a matter of weeks on the night of the guarantee?