Can you add any color or definition on the comment in your article about delaying the fee to December 1st could force the agency to keep it inforce for a much longer period of time? I found this comment to be somewhat alarming, per my many posts yesterday.
I found your comment on Milbank to be almost spooky since I developed the same connect-the-dots idea just yesterday, myself. This fee has nothing to do with cost recovery; it's a red herring to pad the earnings profile and justify a higher IPO/SPO value.