Mr. John Corrigan:

Well, it certainly was a worthwhile exercise in that it exposed the extent to which, for example, as I mentioned earlier, various developers were multi-banked, and it exposed the concentration of the system in various developers, which information the regulator didn't seem to have up until that. As to their conclusion that the banks were solvent, they ... this was, you know, as I said, trying to address this issue over the three or four years was like trying to catch a falling knife, which isn't ... which is a very dangerous exercise, so they ... I wouldn't question their judgment that at the point in time when they reported that it was their professional judgment that they were solvent. But clearly the property values continued to fall and the whole funding regime continued to come under more strain, so while they probably were solvent at that point in time, clearly the situation deteriorated rapidly.