# Quote — Alan Greenspan, The Age of Turbulence

> 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.

- Author: [Alan Greenspan](https://www.leafyquotes.com/alan-greenspan.md)
- Book: [The Age of Turbulence](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence.md)
- Page: 512
- Source: [Wikiquote](https://en.wikiquote.org/wiki/Alan_Greenspan#The_Age_of_Turbulence_(2008)) ([CC BY-SA 4.0](https://creativecommons.org/licenses/by-sa/4.0/))
- Quote page: https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/much-of-the

## More from this book

> An area in which more rather than less government involvement is needed, in my judgment, is the rooting out of fraud. It is the bane of any market system.

p. 375 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/an-area-in-which.md)

> From the development of the textile loom two centuries ago to today's Internet, output per hour has increased fifty fold.

p. 471 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/from-the-development.md)

> Over the years I have had the most contact with Lee Kuan Yew, most recently in 2006, and have always found him impressive, even though we do not always see eye to eye. I met him first when he was George Shultz's guest at the famous (or infamous, depending on your perspective) Bohemian Grove, a male only bonding retreat among the redwoods of California.

p. 312 — [Quote page](https://www.leafyquotes.com/alan-greenspan/the-age-of-turbulence/over-the-years.md)