Question 42 During the financial crisis of 2007-2009, huge losses were incurred in financial derivatives such as CDOs. Which of the following is not true of CDOs? O CDOs were used by banks to offload the risk on their balance sheets. O CDOs were issued as single tranche securities O CDOs were often rated investment grade although their underlying collateral can be junk bonds O CDOs were attractive to institutional investors such as pension funds as they were often given credit ratings that were investment grade