Mr. Alan Dukes:

Yes. I think there was a failure of regulation. There was, clearly, a failure of risk appetite, risk management on the part of the banks. There was excessive reliance by the banks on short-term interbank funding, which dried up. So, yes, all of those problems could have been dealt with domestically and if they had been properly dealt with domestically, we certainly ... we wouldn't have been immune from the effects of the international crisis, but the effects would have been a good deal less than they actually were.