Mr. John Corrigan:

In its letter to the committee, PIMCO clearly put Mr. Cushnahan in consort with other parties in 2013. In the telephone conversation, which I was not party to so Deputy McDonald will have to ask those who were, there was no reference to Mr. Cushnahan being in consort with the other parties. I do not know why PIMCO did not disclose that. They are very good people. I have dealt with them with my NTMA hat on as significant holders of Irish Government bonds. I am not suggesting any sleight of hand on their part but the fact of the matter is that the note of the telephone conversation does not say that Mr. Cushnahan was involved in April 2013.