Mr. Michael O'Flynn:

I mean, Anglo was a property bank. That's what Anglo was. That was the model and unfortunately, there was a mismatch between what they were borrowing and lending because they didn't have the access, the funds. So that mismatch, it was ... none of us, none of us understood the position we were all finding ourselves in by borrowing money. And it was a raw material for our business but none of us understood the situation that they had a mismatch on their side and that came back to haunt us all because the banks, really, couldn't afford to lend the money they were lending.