Finally, do you see that there is a moral hazard in the present system, where management commits the company somewhere far down the road to pension obligations that the present management is not going to have to fulfill and leaves that problem for some other president or CEO to encounter? He might say, “Things are going great around here. I'm making a huge profit. My workers are really happy with me,” without revealing the fact that he has made these commitments to the company that some other CEO is going to have to inherit down the road.
Do you not think that if you gave more priority to pensions in the event of insolvency, present-day lenders, those bond holders who are considering lending money to the company, might force the company to have a better funded pension?