Mr. Sean Mulryan:

Well ... I can't ... I mean, their business model is their business and they take risks. No matter who you lend to, I'm sure there's a certain element of risk. So for ... I mean, they're taking more risk for a bigger reward. I think that's their ... that's what those people do. And it's still ... it wasn't first ... Ireland wasn't the first to have done ... or Nationwide ... I mean, that's been in ... that's the ... for a huge number of the private developers in London, that's the way they've been funded for 35 years.