Mr. Alan Gray:

Yes. So, it didn't and none of those issues would be relevant to Anglo Irish Bank. They weren't in the general residential mortgage market. When I was looking at consideration of a home-buy scheme, I was referring to a social initiative in the UK to have a similar scheme. I outlined similar schemes in New Zealand. These were not issues about banking.

I think any objective economist would look at these and say these are issues about an economist identifying the scale of the crisis which had not yet been interpreted.