 She was quoted by "CBS News" in April 2008, emphasizing that the subprime mortgage crisis was not the result of the inherent complexity of instruments like collateralized debt obligations, but was caused by excessive leverage that was part of efforts to "goose the yield" of mortgage securities to offer higher interest rates to investors by creating "complex cash-flow structures hedged by complex rate swaps".The Federal Reserve cited her in its 2008 paper "Understanding the Securitization of Subprime Mortgage Credit.