Douglas graham introduced the securities laws he was prosecuted under. He was ex minister of justice, full respectability to lombard finance. Here he raised a defense, this is criminal prosecution here. He raised the defense that you have these financial whiskers producing the financial statement and they are doing all these stuff as a black box beneath the board of director you have all these people doing wonderful things in it or behind it. It is not up to him as director to understand what is going on. He can rely on the information but we know it is not correct. Directors need to inquire in a way of a reasonable director of a finance company. A reasonable director of finance company would know whats going ion. They make sure they understood what the financial arrangement were. They were these collation deal, collection of debts, highly risky debts to people who bought second hand car in auckland and if so that maybe that is not the business we should be in It comes to the question - these people getting paid good money, you cant just take the money and put your name on the letterhead and do ntg about it. That was again one of these perineal makeup call we have for directors , that is essentially dont be a director if not competent