obama care and exchange approach where people buy coverage unexchange.eople are saying go buy your own health care. you may disagree with the government subsidy but private employers are saying here is a chunk of money, go buy your own health care. >> bruce, i love you. you set the table for debate so neatly. >> they're not going go back to where they were before. what is going to evolve and just don't get sick for the next three years is a system for the first time where patients are in charge. that means true catastrophic health insurance. that means cheaper insurance, nationwide coverage. you will see the delivery system change for all of health care. there is so much about obama care that works against independence. you can't deduct as much. there is a whole host of issues that moves away from independence. now that everybody can get insurance, remember it was not that long ago. the only way you could get it was through a company employment plan. there is one big problem we have to tackle. company has a bargaining power of a lot of participants. when

i don't know how big the pool of unexchanged bonds is, but could be $15 billion, right? a lot of numbers over the years from argentina, mostly in attempt to s sow fear and concern. the most recent work seen is the number of claims, amount of claim, and, by the way, only argentina knows this and produce no sub stanuation of their numbers, and the work we've seen suggests it's half of the 15 billion, but 7 to 8 billion in bonds that are subject to new york law. that is -- it's not a small number, but as we discussed, in the context of paris club, 9.7 billion, and this number is mangle, and could be settled on terms that are in net cash flow positive for argentina. >> talk about net cash flow positive, you guys bought $400 million in principle, never released it publicly, but 20 to 30 cents on the dollar, sitting on a huge potential wind fall? you get what you're after here, could be worth 1.5 billion, that's a 20 bagger. not bad, jay. >> we started buying bonds near par and at par, and we're just one creditor. there are something like 20,000 individual italian bondholders.