They didn't make loans and then sell the loans.

To speak plainly, the matter implicates the great House of Ormstein, hereditary kings of Bohemia.

Rick Mm hmm.

Hey, Lone Ranger.

Did you get the loan?

Or they might even start to buy things that aren't Treasuries.

I took a loan against the equity that

I can pay off my bank loan!

So they just kind of held fast and didn't sell their CDOs.

So let's say, this person goes to a bank.

So what just happened?

Let's say I make another loan for 300.

The mortgage...

lender, that has maybe similar terms.

OK, so now we're in an interesting situation.

I want more time

I got a mortgage. I got car payments.

Empress of the Lone Islands!

Then I also have these CDOs.

And just to be clear, so the asset within this entity are the loans.

Well I have the original mortgage on my house.

Who knows?

Most of the loans we're familiar with in our personal

Let's say it's um let's say its 10 billion of commercial mortgages.

Tom got a loan from the bank.

But I have ideas, like, I did, I went to the college here, Stanford.

Let's say I'm some type of the Investment Bank.

Everyone pooled in.

So I pay the interest.

Maybe a billion of these are a loan from bank B.

Two of those other loans, they came due, no one was willing to renew the loans, or give them new loans.

So let's think about how we manage our money.

So right here are a whole bunch of people's mortgages.

So we get a 50 recovery.

What, bullets?

Well, I could keep making loans until I have 3,000 gold pieces of demand deposits.

For a total of 5 billion.

And on the liabilities side, what was left?

I want to get more money.

I'm applying for a new villain loan. Go by the name of Vector.

So you can imagine how much he really cared about the Vietnamese people.

And let's say you still owe pretty close to 150 thousand on the loan to the bank your loan might have even been an interest only loan but even after a year or two you're probably not going to pay down the balance of your loan too much it might be like 140 thousand, or 145 thousand

How many payments will it take to pay off this loan?

Interest on loans is high at present.

Let me just do one more loan.