And if there wasn't enough money to pay all of the debt holders, then the equity holders got nothing.

Three pen holders.

And the equity holders get wiped out, the old equity holders.

It's the debt holders.

And we learned that the debt holders were actually more senior to the equity holders.

And so you're writing a 1 billion check to the equity holders and a 1 billion check to the liability holders, or the people who lent this company money.

It couldn't pay it's debt holders.

It would penalize the equity holders.

And pays off the liability holders.

I mean, they're just place holders.

The people who lent this company money made bad decisions and the equity holders of this company made bad decisions.

Equity holders, they kind of took a gamble.

Well, it's the debt holders get first dibs.

So let's say these are debt holders right here.

There might be different debt holders who have different

And in this case the equity holders get nothing.

And it's also going to benefit the bond holders.

Call the other card holders, get them in here.

All green card holders please proceed to hangar D4

But that's the view from the debt holders' point of view.

The equity holders, you can imagine, they don't want to be

So the equity holders are actually the owners of the company.

And then anything that's left over goes to the equity holders.

The backbone of making investment decisions for global holders of capital.

Money money money.

And essentially, the debt holders become the new shareholders of the company.

The only people who will lose big are the old equity holders.

Money, money...

While many loudly thought of themself being the World Cup holders of tomorrow,

And if we're the debt holders, and let's say it goes into bankruptcy.

So some of the cash will go to the debt holders as interest.

Money begets money.

Because the debt holders, all they were getting their upside was just interest, right?

And also, a lot of the equity holders are the management of the company.

A money man. Money?

Drug money and Mafia money are often blood money.

You'd have to pay the debt holders, you'd have to pay off the debt first.

Money gives birth to money.

Where's the money? What money?

Find the true meaning of Christmas. Win money, money, money.

Money

Money

Money!

Money.

Money?