Ultimately, if you are bringing the private sector into these contracts and arrangements, the risk should be transferred to the owner of that asset. The private sector should be pricing into the contract and the risk-adjusted returns what the risks are of those investments. That applies to both the risk on the return and the capital appreciation of the asset. That is where you'd expect the risk, ultimately, to be transferred as a share of the ownership.
One of the concerns that we have, in looking at the P3 model, is that some of that risk is often not transferred to the private sector. Some of that return risk, some of that demand risk, is still borne by the public sector, even with the intent of the transfer. The concern we brought up in our recent piece was whether assets were being correctly priced when you weren't actually getting the full transfer of the risk from the public to the private sector.