Mr. Frank Daly:

I do not think it was regrettable. I think it was a reasonable answer at the time to the sensitivities in Northern Ireland towards NAMA. I cannot tell the Deputy how many times I was in Northern Ireland and was told not to go auctioning Northern Ireland or go putting a for sale sign on Northern Ireland. On one occasion somebody said to me, "You might not have got us in 1922. Do not think that you are going to get us now through NAMA". It was said jokingly, at least I hope so. I think it was a reasonable political response to that.