Mr. Brendan McDonagh:

I think it is a highly unusually level of lending to a small group of individuals. I have often asked myself how did nobody pick up on this? How did a regulator not pick up on this? Because while the banks might be justified that they were lending what they thought to be ... what they thought were good borrowers and good projects, it does not seem to me that anybody looked and said listen, are these same names turning up in institution A,B, C, D, E and F. And I think when you ... if you looked at it which we did when we got the data together and we got through ... and it was very quickly obvious that this level and concentration of lending was done, I don't think you'll find that level of lending anywhere.