I think there's a very good reason, and that is, as a bank, you don't want to tell your shareholders you're in the real estate business. I happen to know that one of the banks had a higher return on their real estate than they did on their banking. I don't think that's an easy sell to your shareholders. I think most industries today want their shareholders to know that shareholders' equity and the debt is going toward the core business. Most of them have shed their real estate because it is a distraction, and it's hard to justify why they've got capital tied up in real estate. I think that was the primary motive.
On May 1st, 2007. See this statement in context.