Which of the Following Is Frequently Cited as a Major

Which of the following is frequently cited as a major contributor to the financial crisis of 2008?

A) The absence of depositor insurance, which could have bolstered customer confidence
B) Individuals and financial institutions borrowing excessively to finance investments
C) Lack of governmental efforts to stem the distress along with non-existent financial aids to banks
D) Excessive transfer payments made by the government
E) Excessive government spending on defense