Aaa...

Aaa...

AAA Yes, yes.

AAA Thank you.

So AAA corporate bonds.

AAA That was my president.

No, I always call AAA.

Let me go you aaa..

So you sell these AAA corporate bonds.

They didn't find some subprime individual that was willing to bid up the house.

AAA You see, undercover is always a last resort.

They might give it, I don't know, a AAA rating.

So AAA would be like the highest rated securities, right?

Aaa, I stayed up all night blowing up ballons... for what?

What are you gonna do when you run outta gas, call AAA?

They have no money down, 1 million loan, subprime, negative amortization, they had no credit rating, etc, etc.

Remember this exponentiation here means copies so this would be a, aa, aaa.

It is a , and this recognizes a, aa, aaa, so this is misleading.

They're telling me that this is AAA, which means the highest level of debt.

I can only invest in things that are rated AAA, or let's say AA.

This difference between this AAA corporate debt and the treasury, that is the yield spread.

Let's say that it has another, I don't know, 10 billion in AAA corporate bonds.

So we're going to give these what they call, let's say they say AAA rating.

If I write the regular expression a followed by a plus, it matches a, aa, aaa, aaaa.

Letting him burn out your phone so you can't call AAA when you run out of gas?

But maybe the AAA corporate debts don't react, maybe the spread doesn't stay constant maybe the spread widens.

Moody's, were willing to give AAA ratings to more and more, what I would argue, are risky loans.

And you have in 2005, at kind of the peak of the bubble, someone buys house number one for 1,000,000, with no money down, subprime loan.

And we said, OK on the assets side, had some government bonds, had some AAA corporate bonds, some commercial mortgages.

He was on to something big, something so big that it was gonna make the nuclear reactor look like a AAA battery.

When you were driving out of your way to drop off a homeless guy who wore out your battery so you couldn't call AAA?

aaa eeee aeaeaea like that, rather than the man and the sheep , that's because you have a tongue, and you cut, clip things, but the future of communication would be more like a song.

What we are going to do is go buy things like highly rated mortgage backed securities, or things like commercial paper, AAA corporate debt, so that those things, the interest on those things goes down.

But when we think about games, a lot of times we think about stuff like this first person shooters, or the big, what we would call AAA games, or maybe you're a Facebook game player.

Maybe you have AAA corporate debt, a very safe corporate debt, a perceived safe corporate debt, but it's not quite as safe as US treasuries, so maybe it's yield curve might look something like this and this difference, for any maturities, maybe this is a 10 year, this is 10 year debt right here.

And so what they're doing is, what Bernanke is saying, is he cares more about what winds up on the asset side of the Fed's balance sheet, because it takes these dollars that it printed, and goes and buys other stuff, and it wants to put some mortgage backed securities over here, it wants to put some AAA corporate debt over here.