Ms Ethna Tinney:

If I was to be very blunt about it, I would say that there was a lot of testosterone rolling around in senior management and on the board at the time. And there was a sense that we were getting left behind as a lending institution, particularly with a view to INBS, which was the Irish Nationwide Building Society which was referenced quite frequently at board meetings by management. There was a sense that we were becoming a minnow as INBS expanded its lending and started to post profits that were up to five times the profits we were posting. And I think it wasn't so much strategic but a competitive urge, a wish to compete and I'm not sure that there was ... I don't recall any heart searching about why we would move from being what you might call, an old-fashioned small building society/bank, into trying to compete with ... in a more voracious arena of-----