Much of the securitization took the form of collateralized debt obligations (CDOs) with senior credit… — Alan Greenspan
Much of the securitization took the form of collateralized debt obligations (CDOs) with senior credit tranches certified by rating agencies as AAA. It was the failure to properly price such risky assets that characterized the crisis.
p. 512Source: Wikiquote · CC BY-SA 4.0
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