We are not saying they are unaffected, we are saying it is...

We are not saying they are unaffected, we are saying it is relatively as affected as something like an airline, a cafe etc. The market will do what it does and there will be buyers that think this is a good risk vs return proposition at this level. Hence why we saw buying come in late Friday afternoon. The liquidity on this is horrendous and even a small player like me could well sell this down to zero if I wanted to. The question one asks when they purchase PNC is whether it presents value and I definitely think it does so I'll be buying up but you won't see my orders sitting on the depth.