So what they do is out of this 10 , they pay them some of the basis points.

So this is a good way to think about it.

And then year 10, I pay the 100,000 plus I pay back the 1 million.

So people are paying a discount to the number we just calculated.

And you say, this group of the CDOs, they'll get the first payments. or if any payments that go, immediately go to this very senior tranche, right?

I have to pay the electricity bill. Can I leave this here?

She paid some electric bills in Spain, '95.

I'd like to pay the check, please.

Choice 3, I am going to pay you I'm making this up on the fly as I go I'm going to pay you 20 today.

So actually, let me do that.

And as a result of Voice Over IP

Because after you've paid your final payment, you're done paying off the house.

You don't pay any mortgage payments.

I probably wouldn't have noticed if you hadn't pointed it out.

I'll pay with travelers' checks.

Everything is risk free.

It's a system that really ties together all the transportation assets into a single payment system.

So on day zero, you have a 200,000 loan.

And so it would essentially be I gave them 100 thousand maybe to do some work for me it would be a transfer of money by giving a loan and then keep forgiving over and over it would be completely identical to giving someone a gift, which is taxed, or giving someone some type of income

Let me do that in red.

I can pay for the damage, if ever so bad.

In this case, Bank A had some loans from

You're left with 500,000 of pre tax income.

Let's say it borrows 100 and it promises to pay it in a year.

That will now compound over the next month.

That will compound for one month.

I'm gonna go left, you're gonna go right, you understand me?

But in multi sided markets there might be users, but they're also might be very separate people who are payers.

But the problem with Santa Clause is, if you look at the mandatory spending of what these folks have been doing and promising folks, it turned out that in 1967, 38 percent was mandatory spending on what we call entitlements.

My grandmother never owned a house.

On the contrary, passengers themselves must pay.

Because some of them have paid, and some of them are still paying.

Look,I only have 100 dollars, I have this customer, I'm doing thec atering for him this month.

I believe is 17 or 18.

So to live in this house, how much am I paying just in interest?

That's right, all of it.

So he makes 2,000.

And those who work, their money isn't enough.

I'd like to pay with my credit card instead.

So it's a little bit more complicated than just saying, oh, look at that, they're giving a 6 coupon, which essentially means twice a year they're going to give me 3 of the value of my bond.

They sell off the assets.

Well, let's say you want to compound let's say you want to pay every day.

We're waiting for our wages

But just answer your question, in the event of your death your family does not see the savings portion, they only get this payout right over here.

So we've collectively borrowed 1 billion from the bank.