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

Payable to the City of San Francisco.

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

You're still solvent.

They serviced the loans.

What are my liabilities?

Helps bring it down.

So that's bankruptcy.

You go get bankruptcy protection.

We would create incentives for securitization.

It can do it through debt or equity.

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

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

What is your strategy in your household?

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

Now let's say it gets even worse.

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

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

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.

This guy, he does have interest.

You can sell shares.

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

I can no longer fulfill my obligations.

So I really do have a positive equity of 11,000.

So we still have the same amount of debt.

So, each of these is an investor.

It's backed by people's trust in the ability of the U.S. economy to support debt to pay off the value of this currency.

Into my office.

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.

The bank was profitable.

My next presentation, I'm going to take it to a further

So that's what we're going to show you in the presentation on collateralized debt obligations.

And so when the Federal Reserve or any Central Bank prints money, and it buys debt, it goes out into debt markets and it buys it, it usually buys the safest kind of debt, but that affects all of the debt markets, it goes out and buys in the debt market, they're essentially shifting the supply curve of money to the right, they shift the supply curve to the right.

So it buys, it buys debt.

So we could say, well, a new figure comes out ... let's see African debt.

And because it's a junkier rating, no one is going to want to buy it.

We would just know that there is a 20 chance.

The B1 office.

And to stop it crashing over the last two to three decades, we've expanded the money supply, expanded credit and debt, so that people can keep buying stuff.

They would actually owe this extra 1 million.

Get him to sick bay!

My office, please.

This one's worth a little bit more because this one has debt.