So how does that work?

So let me delete this.

So now the Special Purpose Entity is the owner of the mortgages .

They'll sell the loans to like, let's say, Bear Stearns. So that's an investment bank.

What's it like being an investment banker?

We're now going to make all of our mortgage payments, the 10 payment, to this bank, this investment bank.

The Bank of Tokyo amalgamated with the Mitsubishi Bank.

So essentially, these banks have a bunch of assets.

And so that cash ended up here.

And if this is a loan from Bank B, Bank B would have an asset called loan to Bank A.

Whether people will continue to loan them money.

The Mitsubishi Bank merged with the Bank of Tokyo.

And of course, everybody who had loans to Bank A, maybe

The bank accommodated the company with a loan.

But it's roughly the right number.

And maybe I should do a whole video on what sell side means, but since I said the word I'll tell you right now.

Papa went to the bank to ask for another loan.

People start shorting the stock, the stock go starts going down.

Owns banks in the Caymans runs investment portfolios for offshore drug money.

Bank B has borrowed money from Bank C.

And then if we go to, let's say, 2003.

That means for every dollar you deposit, it loans out about nine or 10.

Kyowa Bank and Saitama Bank merged into Asahi Bank ten years ago.

They borrowed it from their local mortgage broker, who then sold it to a bank, or to an investment bank, who created the special purpose entity, and then they IPO the special purpose entity and raise the money from people who bought the mortgage backed securities.

Right?

The two banks consolidated and formed a single large bank.

He started at the bank in the post of manager.

And in fact, in a way, it almost took down your empire at one point.

Léila became an architect.

Because maybe one bank does fail, some of its loans come due.

But we're talking in a pre 2008 world.

I worked after for an investment bank.

So what I'm squaring off in magenta, that's the assets of that bank.

Do you know who sponsored this research?

For whatever reason, that person wants their gold back.

It's an investment opportunity. Think about that.

Debt could be just in the form of a bank loan.

However, in a pure quantitative easing regime, the focus of quality is the quantity of bank reserves, which are liabilities of the central bank the composition of loans and securities on the asset side of the central bank's balance sheet is incidential.

And now instead of you getting the payments, I get the payments.

Debt's a little different.

And then the offsetting liability for me,

So they just collect the big cash.

How far did you ever get on that Southwest Bank job?

And when the 1 billion came from that local bank, all the payments, the interest payments, went to the bank.

I'm going to bundle them all together and sell them to this investment bank.