Douglas Elliott Quotations

We've been able to hold the line on electricity prices for a long time. Unfortunately, the costs we incur to serve customers have continued to rise over the years.

There is a huge pension problem here and someone is going to have to pay for it.

I suspect that there will be some mix of taxpayer subsidy and increase in premiums that attempts to partially recoup the losses.

The PBGC does not appear to have a corner yet in the real world. The positive results this year compared to last are a result of accounting decisions as to how much of the longer-term losses to reflect last year, this year and presumably next year. We still have an average loss of $7 billion to $8 billion a year for the last four years.

The PBGC does not appear to have a corner yet in the real world, ... The positive results this year compared to last are a result of accounting decisions as to how much of the longer-term losses to reflect last year, this year and presumably next year. We still have an average loss of $7 billion to $8 billion a year for the last four years.

There has not been a major airline which has gone through bankruptcy without terminating its pension plans.

This really was an accounting decision, ... The reality doesn't change because of the accounting.

You've got three choices: the taxpayers, the companies or Santa Claus ... Theoretically, you could take it out of the hide of the employees, but practically, nobody's looking to do that.