My responsibility is to keep the company solvent.

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

Because the government now owns 90 something percent of the company.

They're giving it to me for safekeeping.

Return rate the one that Soros was so worried about 97 percent.

And it got bailed out by the sovereign wealth fund.

But this I just want to show you some data here.

What are my liabilities?

Our economy grew from 2000 to 2007 on the back of consumers massively overborrowing.

It makes sense to pay off your credit card balance every month.

Our borrowing costs were skyrocketing, and we were facing possible default.

You're still solvent.

They serviced the loans.

This is liabilities.

The personal debt to income ratio basically went from 65 percent to 135 percent in the span of about 15 years.

We would create incentives for securitization.

Payable to the City of San Francisco.

Helps bring it down.

You have 189,000 as the value of this equity.

Now let's say it gets even worse.

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But I don't believe that another round of tax breaks for millionaires will bring good jobs to our shores or pay down our deficit.

I can pay off my bank loan!

What is your strategy in your household?

Well everyone knows that it's not going to be exactly 10 .

So that's bankruptcy.

You go get bankruptcy protection.

This guy, he does have interest.

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

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Now's the time to keep our focus on the most urgent challenge of our time putting people back to work, paying down our debt, and building an economy where people can have confidence that if they work hard they can get ahead.

I give that money to someone else.

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

His name is Owen Porter.

Why is it a liability?

So we still have the same amount of debt.

So, each of these is an investor.

The Civil War. Even more expensive.

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

It's exciting, but we went over our finances and...

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.