Mr. Sean Mulryan:

Absolutely, I would say that was ... that that created enormously ... because let's face it, what is a property developer, you know what I mean? If it was 800 ... but in the whole of Ireland, I know most of the property developers and I'd say there's no more than 100. And so everybody became a property developer and I think that was a huge part of the problem. I'm not saying property developers ... you know, they make mistakes as well, but I think that contributed enormously. You had ordinary people calling themselves property developers, buying properties, not alone in Ireland, in Bulgaria, in Romania, all over the world and in Ireland and building big portfolios on 95%, 100% finance. I think that was a huge contribution to the problem.