Do Teachers Have Egg on Their Faces?

I want to talk about teachers for a hot second before I get to that. So I'm going to defend teachers, but in the broader context of kind of what we talked about. Did teachers make a bad decision on FTX? Yes. Did they know that they could insulate themselves and their pensioners in the event that they went south? Also, yes.FTX was part of a complex portfolio construction calculus that those individuals made within that kind of portfolio. And I am certain that they had accounted for FTX going under. They had accounted for something like crypto completely going belly up. But setting that aside, I'll talk about a little bit about RBC. I'll talk