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

Savings bonds.

They're savings bonds.

So a security in the equity world is a stock.

And if buying debt seems like a weird thing to say, buying debt is the same thing as lending money (lending money).

So it's going to be 6,000 times 1,000 bond certificates.

You can't get it on Yahoo!

We would create incentives for securitization.

It can do it through debt or equity.

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

There's very little chance of them defaulting on their loans.

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

And we came up with this idea of issuing bonds, press freedom bonds.

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And we said there's different kinds of debt.

But then there's a very fundamental difference in what the holder of the bond is doing.

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.

I have a whole video on mortgage backed securities.

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Now what's different about them is what happens on the other side of the balance sheet and this is what I meant by them having different capital structures so let me draw the liability's side for both of these characters so let's do liabilities

I feel secure when I invest in stocks but not bonds.

bishop?

So that is authoritarianism.

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And what is a bond?

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