Mr. Sean Mulryan:

I mean, Nationwide's experience with Ballymore is there was never a loss on any project in 22 years. Okay, so they made money consistently but that didn't happen on a lot of other situations with Nationwide. And I ... I can't speak for that but, you know, its all about who you put your ... you back, right. If you back people in the business that cares about it and has a lot of experience and really, really knows what their doing - like, there were many, many really good developers in Ireland - and then if you start doing the same with people who do not know their business, who aren't developers - but perceived to be, with no experience - and you apply the same model, you're going to have a problem. And that's what happened.