Mr. Frank Daly:

Following further discussion, the board noted that, subject to Lazard's advice, it was mindful to be as upfront as possible with other bidders about PIMCO's withdrawal. I remember that we had a discussion on that. We considered whether there were any legal risks attached to that. We asked ourselves questions. How much do we tell Lazard? How much do we tell the other bidders in the race about all of this? Can we couch it in such a way so as not to leave ourselves exposed to some issue with Mr. Cushnahan, Tughans or Brown Rudnick?

I have already acknowledged today in my opening statement that, looking back, we probably had told Lazard broadly of the reasons for PIMCO's departure. I do not think we would have ever given Lazard the full details of it because that would have led to all sorts of-----