Leverage.

Central Europe, unsecured.

And you end up with a mortgage backed security.

Was it a correct decision?

I have a whole video on mortgage backed securities.

We would create incentives for securitization.

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

Right?

So these shares each of these one million shares this is a mortgage backed security.

So just in kind of our everyday personal finance world, your mortgage is actually secured debt.

We'll borrow some money on the house.

We'll use the house as collateral so we can borrow some money.

I think it's a distraction.

I'm not so sure you want the maintenance and safety department. The fire department might be a better bet.

But you should watch the videos on mortgage backed securities and collateralized debt obligations, if you want to get a better understanding of exactly how the money flows go.

It all comes out of the equity tranche.

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.

They feed me info.

Is sent over by the Coast Guard In charge of the food here

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

Director Galloway, our national security advisor

We hold the bond on Jessup Dolly, and now he's a runner, it looks like.

Let's meet the family.

Look at this

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I've just lost my job.

The welcome you gave me was surly,

And, you know, Iceland, it was never going to cut it.

Or they might even start to buy things that aren't Treasuries.

That's how loans worked before the mortgage backed security industry really got developed.

And then when we go and get the property because the

He wants your wife as leverage.

So this is a form of a collateralized debt obligation.

But we have to start with the basics.

Some of them are going to pay ahead of time.

Now, Georgie, like it or not, is acceptable collateral.

And these guys are some place in between.

And the bank thinks it got a great deal.

It forecloses on the property.

I know that, Marv, but you have no equity.

It's a backup system for all the seed banks. Storage is free.

They are one of the first people to get their money.

But anyway, this isn't the crux of it either.

And I'll be willing to give this as collateral.