CDOs, collateralized debt obligations, are derived from mortgage backed securities.

The 400 million senior tranche we raised from 1000 senior securities, collateralized debt obligations.

You might just want to watch the video on mortgage backed securities and collateralized debt obligations if you need a refresher there.

You call them stock, or stock options, derivatives, mortgage backed securities.

Something about phony securities.

They're fairly liquid securities.

Those are essentially derivative securities that are derived from mortgage backed securities.

We fulfill our obligations.

It can buy Treasury securities, so instead of short term Treasury securities, maybe it could be longer term Treasury securities.

And these shares would be called Mortgage Backed Securities. or sometimes MBSes.

And maybe it also does some longer term treasury securities, or whatever else.

We are stuck with its obligations.

What are the immediate supply obligations?

Treasuries, or in a whole set of securities, even though these are very low risk or perceived low risk.

So these treasury securities, whether they're T Bills, treasury bills, treasury notes, or treasury bonds.

So in exchange it gets treasury securities.

And equity securities you're probably familiar with.

We're from the Securities and Exchange Commission.

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.

I can no longer fulfill my obligations.

And of Abraham, who fulfilled his obligations

They're actually obligations of the U.S. government.

I've got no moral obligations here, Michael.

He had obligations that he couldn't abandon.

Welcome to my presentation on mortgage backed securities.

And it puts some obligations on those operators.

I have a whole video on mortgage backed securities.

And they rate these assets, these mortgage backed securities.

In everyday life we have many obligations and responsibilities.

And those who are mindful of their moral obligations.

A citizen not only have rights, he has obligations.

Social securities are not something that should be trifled with.

And we learned that debt securities are often called bonds.

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

They will answer We did not fulfil our devotional obligations,

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

And so money came from when the owners of each of these mortgage backed securities each, let's say, paid 1,000 for the mortgage backed securities.

And we're also joined by Brent Lawson from Lawson Frisk Securities.

Welcome back to my series of presentations on mortgage backed securities.

They will give this money to the market, and in exchange they will usually buy treasury securities, sometimes something slightly different, but usually very safe securities.

And, of course, the human population has its own reciprocal obligations.

Why is it that we don't have ethical obligations toward rocks?

Don't sell. You've got obligations. A huge payroll, overhead, retirement plans.

There are some... obligations that go beyond my loyalty to you...

We would look the other way when Bear Stearns is creating collateralized debt obligations, or AlG is writing credit default swaps.