somethings up, page-40

Spasmod maaaate....

NTA did not drop by over a dollar. You need to look at the accounts maaaaate. Maaaate more than half of the loss was impairment not revaluations.

CNP is a property group with bricks and mortar assets maaaate.

Bear Stearns was a bunched of card playing hopped up screen jockeys with a truck load of dodgy derivates levergaed at 33:1 that stank to high heaven maaaate.

End of comparison.

4% is MY estimate of the drop in commercial property values maaate. No one can tell you for sure maaaate becuase the capital markets are closed maaaate.