Mr. Brendan McDonagh:

Well ... the reality was that we were glad to see somebody like Merrill Lynch come on board because it brought a bit of structure. We were attending the meetings with the Central Bank, the Department of Finance and the regulator and everybody, in fairness, was trying their best but there was no structure on it. And when the view was taken to get Merrill Lynch on board, I think in fairness what they brought, it was very expensive but what they brought was a bit of structure in terms of evaluating the options, the range of options, the pros and cons of the options, and that's set out in that memo.