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

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

You're still solvent.

They serviced the loans.

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So that's bankruptcy.

You go get bankruptcy protection.

Now what's different about them is what happens on the other side of the balance sheet and this is what I meant by them having different capital structures so let me draw the liability's side for both of these characters so let's do liabilities

So that is authoritarianism.

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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.

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Life adds information to matter.

Fox, I need picture.

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...

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.