The recent financial crises was exacerbated by A) managers who undere

The recent financial crises was exacerbated by

A) managers who underestimated the real risks of their decisions and borrowed excessively.
B) extremely high interest rates in the United States that stifled investment.
C) a lack of financial leverage that made U.S. firms less competitive in world markets.
D) managers who overestimated risk and hence did not invest sufficient funds.

ANSWER

A