Kent Conrad: “The Fed's job is to get that down, and that resulted in this monetary policy that is a huge Hail Mary pass.”

If we are going to make this whole system solvent, it is going to take everybody to give a little bit.

The one thing I know for sure is that what is happening now is not working.

I wish I could look you in the eye and say, you know, if we just had the will, we could reverse this, and we could go back to a time when defined benefit plans were on the increase. I do not think that is in the cards.

That I like to call the 'Conrad provision.'