Thank you very much.
Mr. Valentini and Mr. Malo, welcome and thank you for being here.
Mr. Valentini, I cannot help but say, with a smile, that you reminded me of Jean Charest when you were giving your testimony earlier. During the fall election campaign, Mr. Charest said to all and sundry that he could not say what was the extent of the losses incurred by the Caisse de dépôt et placement, since the audited financial statements had not yet come out. In fact, everyone in Montreal knew that the Caisse had lost between $35 billion and $40 billion. Yet, he continued to say that because, technically, it was true.
You served us up exactly the same answer today. Your fiscal year has ended. You know, as we all do, that you lost several billion dollars, but you are saying this morning that you don't know the actual amount because it has not yet been audited. So, I am going to put the question to you a little differently.
Have you lost billions of dollars this year?