Mr. Fintan Drury:

I was appointed to the board of Anglo Irish Bank in 2002 and one of the reasons why I think I was appointed was because I was a generalist, as opposed to somebody who had, kind of, linear experience or professional experience. And in that context, I feel that I contributed very well as a non-executive director. I was somebody who understood what the bank was trying to achieve, who understood the ambition of the bank, who understood the need to balance growth with control and I think that the issue around my suitability really in some people's minds relates to question of my chairmanship of the risk committee and my role on the risk committee. And I think in that respect, I would say ... make the following points, Chairman. No. 1, when I assumed the position as chairman of the risk committee, I had served five years on the risk committee at that point. So I had a ... a strong understanding of the risk management function, how it worked and how the risk committee worked. I think that the second point is that at that time, I said very clearly to Seán FitzPatrick that I would like the composition of the risk committee to be changed in order that there would be high-quality financial people on the committee with me and in that sense, Ned Sullivan, who had been chairman of the audit committee for four, maybe six years prior to that, he became a member of the risk committee. Noël Harwerth, who was chief operations officer of Citigroup, she became a member of the committee and Lar Bradshaw, who was former managing partner of McKinsey, became a member of the committee. And my job was also, I think, to be seen in the context of I had been chairman of Paddy Power plc for a considerable period of time- almost six years by then. Over that time and Paddy Power you know, may seem like a very different business. But in many respects, the work that a company like Paddy Power does in the gambling industry is very, very significantly layered with risk and the management of risk. And in that respect, my experience as chairman of Paddy Power of the board of Paddy Power overseeing significant growth in the market capitalisation of Paddy Power, overseeing the appointment of a new chief executive, I think made me suited to the position as chairman of the risk committee. I accept fully, the points that you have made in summary, harsh and all as they may appear. What I have been attempting to do in my testimony to your committee, Chairman, is ... is to account for what I could account for. And as I said in my opening remarks, if I cannot give an answer, I will say so.

I do think that the remarks that you have made are unfair in the context of somebody who was chairman and a member of a risk committee and a member of a board of directors who was compromised by the fact that there was a significant amount of information which we ... which was not shared with us. It may not have been significant in terms of the quantum, but it was certainly - and the evidence is there now - it was certainly significant in respect of its import. And I do think that I was equally compromised by the fact that I have had to give evidence today in circumstances where there are acute sensitivities around what I can say about individuals, or even groups of individuals, not naming people. I was told in advance of coming in to give testimony today that I couldn't even talk about "the leadership of the institution". And if that is the case then to-----