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

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

There is an urgent need for improved living conditions.

You're still solvent.

They serviced the loans.

What are my liabilities?

SADAKO SAWAMURA

During which surveys were conducted at 3 points. baseline, midline, and endline, to study the impact of cash transfers on households.

Helps bring it down.

So that's bankruptcy.

You go get bankruptcy protection.

Water level

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

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.

Payable to the City of San Francisco.

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.

Girlfriend? Official business.

That's where the 1 billion comes from.

The bank helped finance the rebuilding of what was otherwise a dying community.

The Federal Reserve cut its benchmark discount rate to an 18 year low.

This next chart looks at more recent data.

What is your strategy in your household?

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

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.

What charges?

Stay with him if he's worthy.

High level LaTeX frontend

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'm a government worker.

Given a high level of bond issues, the cost to service them will increase.

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.

So what is illiquidity?

And I'll set your office up,

I trained briefly as a Buddhist monk under this guy.