Which of the following lessons from the Great Recession is NOT true?

Which of the following lessons from the Great Recession is NOT true?

A) The financial crisis really drove home the point that capital structure DOES matter in that firms with too much debt suffered greatly.
B) Firms that relied too much on short-term financing were severely affected by the global liquidity crisis.
C) Capital markets are indeed almost perfect.
D) All off the above are true.

ANSWER

C