And so the Investment Bank could then sell shares.

That's right,spe. Special purpose entity.

Spe stands for special purpose entity.

So what they do is, they create a corporation.

So I stick them all inside of that.

And some of them will default,some of them won't.

And I stick all of the mortgages inside that Special Purpose Entity.

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.

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

Keep it in your mind. 1 billion goes to a bunch of borrowers, goes to 1,000 borrowers, to be specific.

The investment bank at least starting off with all of the shares of the Special Purpose Entity.

There are a part of a general class called Asset Backed Securities because what is going to happen now is that all of this money flowing from home owners will go the mortgages which is now on the Specail Purpose Entity.

They borrowed 1 billion collectively, right, because there's 1000 of them, et cetera, et cetera.

But essentially what happened is the investors in the mortgage backed securities provided the money to the special purpose entity to essentially loan to the borrowers.

So if all these people promised they would pay, and they're going to pay to this special purpose entity.

Say they default on a 1 million mortgage, and then the special purpose entity would get control of that house.

The rights on those payments, we are now going to transfer to this special purpose entity, to this other corporation.

So they created this company.

Harold Gould, and special guest star, Celeste Holm.

I'm a gamer, so I like to have goals.

I really want to be the intermediary.

He's fiveten, 180 pounds. He matches our witnesses' description.

They needed 1 billion collectively, because there's 1000 of them and they each needed 1 million to buy their house.

I have a special job.

And now the payment stream instead of going to let me do a different color now the payment stream goes to this special purpose entity instead of the bank.

Special Occasion

an Act for the encouragement of learning .

It's a special interest group?

Yeah. One man, Special Agent Alexander Mahone, is responsible for multiple deaths.

It was very primal and more remote than anything I'd ever experienced before.

Special remote ID cannot be empty.

In American football the defense has a specific job.

Arabs were saving Jews. Jews were saving Arabs.

I know, but we're making an exception for your first client.

Special Agent Don Self, Homeland Security.

I went there for the express purpose of earning money.

You have a very special purpose in life.

Specific things. Like get in line at the video store ?

Special

This is a special occasion.

Special server certificate cannot be empty.

That too was a competition, and it is something I'm just beginning to work on.

What about military applications?

The money is actually backed by people's mortgages.

It clears the forest, reveals the trees inside.