Mr. John Gormley:

Because Mr. McWilliams was ... there were very few people that called it right in relation to the bust. Mr. McWilliams did call it correctly. He was right and so I wanted to get a different perspective. I wanted to find out from someone ... I found him to be engaging, personable, quite enthusiastic and he had ... I had met with him down in my Department. He'd also been on the ministerial corridor, we had had chats. I don't say I ...I knew him very well but I ... I knew him reasonably well, on a professional level, and I listened to his advice and I found him to be, as I said, very co-operative and that's why I spoke to him.

I had had some contacts with him and I used those contacts. I didn't have contacts with other economists and, in any case, as I said, the two people that were right about the bust were Morgan Kelly and David McWilliams, as far as I can recall.