"In all tests of character, when two viewpoints are pitted against one another, in the final analysis the thing that will strike you the most, is not who was right or wrong, strong or weak, wise or foolish.... but who would go to the greatest lengths in considering the other's perspective."

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I think what we need is better understanding of how to do risk analysis of a CDO, but that they still can perform a very valuable function because they can aggregate these risks and pass them around so that mortgages or other kinds of loans can be packaged and sold to investors all over the world, who in most times, would justify a small amount of each one.

— Robert F. Engle