Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It wasn't actually adopted. Can I just ask you to square a reference in this document on page 31, where it says notwithstanding the recessionary environment:

[W]e are confident that given the nature of our business model and appropriate pricing and management of risk, the Bank will continue to generate strong profits and capital. We believe that Anglo [Irish Bank] will be the most profitable and capital generative of all publicly quoted financial institutions in Ireland over the next five year period.

This was November 2008. We heard evidence this morning from Peter Fitzgerald that, in his view, after the Lehman collapse, so in the second half of September 2008, those in charge of running Anglo knew the game was up. What is your view?