“It was the failure to properly price such risky assets that characterized the crisis.”

— Alan Greenspan

"Epilogue", p. 512.
2000s, The Age of Turbulence (2008)
Context: 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.

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13th Chairman of the Federal Reserve in the United States 1926

Max Boisot (1943–2011) British academic and educator

Source: Knowledge Assets, 1998, p. 2

“To understand the crisis we need to get beyond the blame game. For at the root of the crisis was not failures of character or competence, but a failure of ideas.”

Robert Skidelsky (1939) Economist and author

Source: John Maynard Keynes: The Return of the Master (2009), Ch. 1 : What Went Wrong?

“I have always believed that conservation is not a liability to industries. Instead, if done properly, it can be an asset.”

Sukanto Tanoto (1949) Indonesian businessman

Interview, China Economic Herald, Nov 30, 2007. http://www.rgei.com/files/media_releases/ceh_301107.pdf
2007

“Remember: never walk away from failure. On the contrary, study it carefully — and imaginatively — for its hidden assets.”

Michael Korda (1933) British writer

Source: Success! (1977), p. 119

“In Administrative Behavior, bounded rationality is largely characterized as a residual category — rationality is bounded when it falls short of omniscience. And the failures of omniscience are largely failures of knowing all the alternatives, uncertainty about relevant exogenous events, and inability to calculate consequences. There was needed a more positive and formal characterization of the mechanisms of choice under conditions of bounded rationality… Two concepts are central to the characterization: search and satisficing.”

Herbert A. Simon (1916–2001) American political scientist, economist, sociologist, and psychologist

Source: 1960s-1970s, "Rational decision making in business organizations", Nobel Memorial Lecture 1978, p. 502; As cited in Barros (2010, p. 464-5).

“The nation is in the grip of a crisis. It is in essence a crisis of character. The obstructions and failures in other fields – economic, social and political – are just a reflection of our decline in the moral scale.”

Gulzarilal Nanda (1898–1998) Prime Minister of India

MSN News in: Past Prime Ministers: Those who came before Gulzarilal Nanda http://news.in.msn.com/elections-2014/past-prime-ministers-those-who-came-before?page=2, MSN News, 26 May 2014.

“The onset of a crisis is usually triggered by a spectacular failure which shakes confidence in fictitious forms of capital.”

David Harvey (1935) British anthropologist

Source: The Limits To Capital (2006 VERSO Edition), Chapter 10, Finance Capital And Its Contradictions, p. 304

“So the fact that I’m me and no one else is one of my greatest assets. Emotional hurt is the price a person has to pay in order to be independent.”

Haruki Murakami book What I Talk About When I Talk About Running

Variant: The fact that I’m me and no one else is one of my greatest assets. Emotional hurt is the price a person has to pay in order to be independent.
Source: What I Talk About When I Talk About Running

“Firms that have a high BE/ME (a low stock price relative to book value) tend to have low earnings on assets. Conversely, low BE/ME (a high stock price relative to book value) is associated with persistently high earnings.”

Eugene Fama (1939) American economist and Nobel laureate in Economics

Source: Common risk factors in the returns on stocks and bonds, 1993, p. 8

“Another strong force for change: crisis. All the failures of education, like a fever, signal a deep struggle for health.”

Marilyn Ferguson (1938–2008) American writer

The Aquarian Conspiracy (1980), Chapter Nine, Flying and Seeing: New Ways to Learn

“It was the failure to properly price such risky assets that characterized the crisis.”

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