They say "hindsight is 20/20," meaning you can usually see things more clearly, with a much better understanding, after events have occurred. We can say the same for the recent banking crisis. The practices of several participants (for-profit companies, government regulators, and customers) came together to create the crisis that caused the collapse of several banks, financial services companies, and corporations.

Question

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The statement is true. The banking crisis was caused by a combination of factors including risky lending practices, lack of government oversight, and customer behavior. Many of these factors were not fully understood or acknowledged until after the crisis had occurred.

They Say "Hindsight Is 20/20," Meaning You Can Usually See