Mr. David Begg:

Yes, that's ... I did feel that because I could see on the ground that you had a situation where a lot of people were investing money, borrowing money to invest in houses, which, as I said, were, in many cases, being constructed by people who had come here to work in Ireland who, in turn, were renting those houses, and it seemed to me that it was creating a, kind of a, spiral, which was, ultimately, not likely to be sustainable, or, at least, had huge vulnerabilities built into it.