Dr. Michael Somers:

No, we wouldn't have known any of that stuff. When the Pricewaterhouse report came in, I must say I was flabbergasted when I saw the size of the loans that were out ... because it was all amalgamated there, and I was flabbergasted to see the size of the loans which were advanced by the Irish banking system to individuals. I mean, they ran to billions. And I think I wrote to the Minister for Finance, he'd asked me to write a letter to him about what I thought of the overall economic and financial scene, and I wrote to him and one of the things I mentioned was that some individual had loans from the banking system equivalent to 3% of our GNP, which I thought was absolutely staggering. Because we were going out borrowing-----