This is the equity...

They serviced the loans.

Now let's say it gets even worse.

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

What is your strategy in your household?

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

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

So, each of these is an investor.

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.

My only visitor.

He had this 5,000 dollars in accounts payable, also depicted over there.

We would just know that there is a 20 chance.

You're still solvent.

The bank was profitable.

You have a kingdom to run. So, wait... I'm really the only heir?

The one and only.

Well, I had a unique seat that day. I was sitting in 1D.

They would actually owe this extra 1 million.

He's our only suspect.

These are the people who first lose money.

And of those 20 that default, we have a 50 recovery.

There are other liabilities other than debt.

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.

That's just about the one thing they had in common.

So that's bankruptcy.

You go get bankruptcy protection.

This guy, he does have interest.

32nd Tech Brigade, sole survivor, sir!

He was its only survivor.

That's not always the case.

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.

He's our only witness, sorry.

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.

I know I've overdrawn this picture a little bit too much.

So we still have the same amount of debt.

And this is what this mortgage backed security market allows.

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

However all of these spin offs fall well outside of the core Super Mario series of platformers.