Dr. Michael Somers:

Well, yes, I mean we knew that the markets were spooked. That they were losing confidence and the Minister had complained to me a few times about the level of credit default swaps and he said to me, "Can you not go into the market and do something about this?" And I said to him, "How do you think I ... this is a market, I can't go in and influence this market. This is the view that other people are taking of us. This is what they're charging to insure our banks and it's not showing very much confidence in us." I mean normally, these credit default swaps wouldn't have cost very much I think. But when people begin to lose faith in you, then they don't charge you to insure.