John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

There are a couple of quotes that I just want to put to you from it, in particular, one at the bottom of page 31, "Anglo Irish Bank Overview". It says, and bearing in mind this was November 2008, "We believe that Anglo Irish Bank will be the most profitable and capital generative of all publicly quoted financial institutions in Ireland over the five year period", the five-year period being 2009 to 2013, exclusive. In light of the fact that this was just a few months before nationalisation, a few months before the bank was making impairment provision of over €4 billion and ultimately cost many billions of euro to the State and the taxpayer, how can you rationalise for the general public how this statement was made or that conclusion was come to?