Mr. John Corrigan:

Well, Dr. Bacon was commissioned by the Minister to look at this question and the NTMA was broadly supportive of the NAMA proposal, as you heard from my former colleague, Dr. Somers. He subsequently felt that a slightly more ... a slightly different approach to how NAMA would do its business might be adopted.

I'd have to say that because people were multi-banked, it was a key to NAMA's success that the process be centralised. That would have been my view at the time, and is still my view.