Which of the following forms a part of the principal conclusions reached by the majority of members of the Financial Crisis Inquiry Commission (FCIC) with regard to the causes of the financial crisis?
A. that there was no systematic breakdown in accountability and ethics
B. that the financial crisis was unavoidable
C. that the contribution of over-the-counter derivatives to the crisis was insignificant
D. that the failures of the credit rating agencies were essential cogs in the wheel of financial destruction
Answer:D
Which of the following forms a part of the principal conclusions reached by the majority of members of the Financial Crisis Inquiry Commission (FCIC) with regard to the causes of the financial crisis?
A. that there was no systematic breakdown in accountability and ethics B. that the financial crisis was unavoidable C. that the contribution of over-the-counter derivatives to the crisis was insignificant D. that the failures of the credit rating agencies were essential cogs in the wheel of financial destruction