Mr. David Begg:

Yes, well, I would say, you know, in all of these things I did the best I could, you know. It's possible my best wasn't good enough on particular occasions, but I did the best I could. And I would say in fairness, you know, I didn't make the decision to separate regulation from financial stability; I didn't introduce principles-based regulation; I didn't introduce the Basel II capital requirements directive; I didn't continue property related tax expenditures in the economy; I didn't believe in the Great Moderation; I wasn't a member of the regulatory authority; and I did positively try to maximise attention to the problems of economic growth that I considered to be sustainable; and I did identify the vicious circle in construction and the possibility that it would end in tears. I also, by the way, correctly forecast the impact of the recession when it happened. Now, it will be for another generation of people to judge all of this. I'd say ... the people I worked for ... you know, in my day job, at least were not unhappy with my performance.