Mr. Willie Soffe:

Just listen to me. We took the view that PIMCO had to go. It was offered the opportunity to leave the process, but it was clear at the board meeting I was present at that every member of the board took the view that PIMCO had to go. If it refused, it would have to be forced out. That was the position. It could not stay in the process. We were in a position in which we had solid bids from others. Mr. Cushnahan had not been with NAMA since the previous September, PIMCO was gone, Cerberus had made the best bid over our minimum price, and we established with absolute certainty from it in writing that it had no arrangement to pay a success fee to anybody associated with NAMA, past or present. Cerberus gave that assurance in writing.