One thing is for certain, the average borrower's risk-averse behavior did not contribute to the problems that spiraled out of control and caused the banking crisis of 2008-2009.

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The average borrower's behavior may have contributed to the banking crisis of 2008-2009 as some borrowers may have borrowed beyond their means or defaulted on their loans, leading to high levels of bad debts for banks.

One Thing Is for Certain, the Average Borrower's Risk-Averse Behavior