With these sacrifices, Greece did avoid bankruptcy and the eurozone avoided a collapse.

But this I just want to show you some data here.

This was the last 15 years before the crash, and you can see there, consumer debt rose dramatically.

You're still solvent.

They serviced the loans.

We see the Occupy protests, we see spiraling debt crises, we see growing inequality, we see money's influence on politics, we see resource constraint, food and oil prices.

Italians. This is precisely meant to avoid backlashes.

Bellwether signs again.

Helps bring it down.

And the Chinese character for crisis is actually the same side of the same coin.

So that's bankruptcy.

You go get bankruptcy protection.

converter, euro, money, cash, calculator

Trouble.

We would create incentives for securitization.

It can do it through debt or equity.

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

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

Payable to the City of San Francisco.

(Roar) 6 00

What is your strategy in your household?

You have 189,000 as the value of this equity.

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

Now let's say it gets even worse.

It's exciting, but we went over our finances and...

EU euro

Euro

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

This guy, he does have interest.

You can sell shares.

Well everyone knows that it's not going to be exactly 10 .

Grief for the gods!

You're just gonna have to

The price of life on this planet.

Euro

I can no longer fulfill my obligations.

So I really do have a positive equity of 11,000.

So we still have the same amount of debt.

So, each of these is an investor.

Recession. Default. Doomsday.

So it's midlife crisis. No, he's just quiet.

Is it a mid life crisis?

That man borrows money from many lenders.

That man is a heavy debtor.