Mr. John Corrigan:

I believe so because at the time we consulted with some of our investment managers. We outsourced the management of European equities to some London houses, for example, and we asked them for their views on whether, for example, they would buy shares in the Irish banks at that point in time and the ... for all sorts of reasons, which are now obvious, they said that they wouldn't. So if it had been invested conventionally in the markets, the return, I believe, would have exceeded the return earned to date ... so far.