Mr. John Mulcahy:

No, the Deputy is mischaracterising what I said. The fact that the Comptroller and Auditor General stated that he makes no judgment of a commercial or strategic nature is not true. He goes on to make precisely that. The judgment that I object to is that he argues that instead of taking £1.3 billion, if NAMA had worked out some other strategy for the portfolio, it would have made more and it would have been a better commercial decision. I am saying I think that is wrong.