Mr. Garneau, if I could answer your question about the magnitude of the cost, I would just submit to you that the low end or the minuscule costs that you may have seen comes from people who do not understand and actively participate in the debt capital markets.
I believe you have now seen testimony over the last few days and submissions that have been made in the public domain of active capital market participants. Mr. Dafoe is a capital markets dealer. They bring issuers and investors together. You have heard from investors, such as PH&N. I can speak to you on behalf of issuers. I issued billions of dollars of debt in my role as treasurer of Bell Canada.
I think we can certainly tell you that having played in this market and knowing the way it works, the costs would be substantial.