Their steel assets have not been very competitive.

I'm not sure of anybody with that many anvils. A real good collection is not that common.

Not many assets there,

If AK Steel can't get a competitive contract, I don't think anybody would want them. They're the only ones left with an old-style contract. ... All contracts now cap liabilities.

Why should we compensate if we are not expropriating the assets of the multinationals?

I fret for the 55- to 65-year-old investor who is investing the bulk of their assets in high-flying multiples. They can permanently impair their capital base. They don't have the longevity to earn back the money.