Now almost all major newspapers/journals and magazines are printing research reports giving the analysis and/or the causes of the sub-prime crisis which gripped America and the world a few months back. Which of the following was/were amongst the common cause(s) of the same? (They were present in almost all the economies)
(A) The problem was that investors erroneously believed property prices were quite predictable and built a whole edifice of financial planning on the back of the American housing market
(B) Credit rating agencies all over the world were not equipped to forecast the effect of sub-prime crisis on world economy. Agencies were over-confident and did not react in time.
(C) Neither USA nor other countries took a note of the crisis in time. In facts they ignored it for quite some time
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