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.

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

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

And at the same time, what keeps me up at night is a fear that we'll look at the victories of the G8 50 billion dollars in increased aid to Africa, 40 billion in reduced debt as the victory, as more than chapter one, as our moral absolution.

What are my liabilities?

You're still solvent.

They serviced the loans.

If you could get a deal at Copenhagen, where people agreed,

Applause

One certainly can't argue with those numbers.

But kind of the one that people always talk about, I guess in the same phrase, is bonds.

SADAKO SAWAMURA

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.

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.

Over the last few years, both parties have worked together to reduce the deficit by more than 2.5 trillion mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of Americans.

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.

(Audience cheers)

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

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.

Girlfriend? Official business.

That's where the 1 billion comes from.

But in my world, it's called reduced obesity and diabetes.

Now he's put together some thoughts

Now this war has been a total failure.

Well, theoretically, you could put it in the hands of anyone and they'd be downsizing immediately.

So we still have the same amount of debt.

So, each of these is an investor.

So what is illiquidity?

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

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.

So an 82 percent absolute reduction translates into a 90 percent reduction in greenhouse gas intensity relative to sales.

Improvement of natural energy technology

You're probably aware there's been a lot of talk about cutbacks.