John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Thank you, Chairman. Good afternoon, Mr. Quinlan. I just want to ask you, actually, at first, you made reference earlier on to sub-prime and you said it didn't exist in Ireland. It was a very marginal thing in Ireland but, I mean, there was some sub-prime lending into commercial ... residential property, in particular, in the Irish economy.

A number of institutions with a loan value of less than 2% of the overall figure. I won't name them, but I think it was peripheral but I don't think you were deliberately trying to state something that was untrue. Can I ask you, in relation to your opening statement, you said that you only had a "high level overview" to quote directly, of Quinlan Private's interaction with financial institutions. How, seeing as you were the executive chairman, did you only have a high level-----