Why Do the Regulators Have an Incentive to Delay the Closing

Why do the regulators have an incentive to delay the closing of troubled financial institutions?

A) The regulators are self-interested agents of the taxpayers and are worried more about their tenure than the well being of their constituencies.
B) Closing down troubled institutions sends a signal that the industry is in trouble and that the regulators are slow to recognize the problems.
C) Closing down troubled institutions can damage the regulators' reputation and make it very difficult for them to get a new job.
D) all of the above
E) a and c