We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario. ↗
And if we make the process political, if we start to make it personal, we're actually going to frustrate good public policy, in terms of managing this money. ↗
Last year, New York got $200 million. This year, we're going to give them $124 million under this particular program. But last year was an artificially elevated number to make up from the very low grant the year before. ↗
I think the most exciting thing is that you expect people our age to know the music, but actually a lot of kids know the music, and if anything is left, we have left really good music, and that's the important part, not the mop-tops or whatever. ↗