Beginning in September 2008 and Extending into the Spring of 2009,the

Beginning in September 2008 and extending into the spring of 2009,the world's credit markets- lending of all kinds- nearly stopped.The corporate lending markets demonstrated which of the following complex combination of crisis conditions?

A) The risky investment banking activities undertaken post-deregulation, especially in the mortgage market, overwhelmed the banks' commercial banking activities.
B) The indebtedness of the corporate sector was tiered, with the biggest firms actually being extremely well positioned to withstand the crisis. The middle and lower tier companies by size, however, were heavily dependent on debt, particularly short-term debt for working capital financing. Many were now having trouble in both servicing existing debt and gaining access to new debt to stave off declining business conditions.
C) All corporate borrowers were suddenly confronted by banks reducing their access to credit.
D) All of the above are true.