Ms Ann Nolan:

I mean, I think the ... if you look at the forecasts done in the autumn of 2008, I don't necessarily have them with me, from the various people, they all were predicting 2009 to be bad, I don't think any of them to were predicting it to be as bad as it was. I mean, you know, I'm not trying to justify what the banks were forecasting for themselves in autumn 2008. Obviously, it turned out to be wrong. I'm merely saying that it was their forecast at the time.