Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Mr. Walsh, the Project Harmony, which was a due diligence report that you'd be familiar with in 2007 doing the ... examining the society up to the end of 2006, found a concentration of loans in the higher risk development sector at 41% of total commercial lending. Concentration of loans in higher loan-to-value, 30% of commercial loans had higher than 100% loan-to-value and 30 commercial customers accounting for 53% of the total commercial loan book and 41% of the total loan book. Can I ask you, did the board ever consider or was there a discussion about concern that these levels of concentration and the correlation between them greatly increased the risks to the business model that was being pursued?