Leverage.

I'm not so sure you want the maintenance and safety department. The fire department might be a better bet.

I have a whole video on mortgage backed securities.

Central Europe, unsecured.

We'll borrow some money on the house.

We'll use the house as collateral so we can borrow some money.

And you end up with a mortgage backed security.

So these shares each of these one million shares this is a mortgage backed security.

And, you know, Iceland, it was never going to cut it.

That's how loans worked before the mortgage backed security industry really got developed.

Was it a correct decision?

So just in kind of our everyday personal finance world, your mortgage is actually secured debt.

So that's what we're going to show you in the presentation on collateralized debt obligations.

But we have to start with the basics.

So that's what secured means.

It forecloses on the property.

My next presentation, I'm going to take it to a further

Is sent over by the Coast Guard In charge of the food here

We would create incentives for securitization.

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

And that's why they are called derivative instruments.

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

The welcome you gave me was surly,

So there's no way for him to invest in this security and to get better returns.

So this is a form of a collateralized debt obligation.

Some of them are going to pay ahead of time.

I think it's a distraction.

And secured means there's actually some collateral on the asset side that they get if the company can't pay.

I know that, Marv, but you have no equity.

And the cash flow will come back to it.

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.

But over this whole credit crunch, the Fed has gotten

And think about it, AlG didn't have to do anything.

Which is why we'll be coordinating with V security.

They feed me info.

What the Fed was doing was, they were saying, OK, we'll take some of these assets that Bank C has.

The only situation where I would foreclose is if the market price of the house goes less than my loan.

And then they can use that to pay Bank B.

And the loans are just the right on these 10 payments.

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

Director Galloway, our national security advisor

We hold the bond on Jessup Dolly, and now he's a runner, it looks like.

The fort is finished forfeit is the pledge

Maybe the Fed would be willing to take this as collateral.

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