What Effect Did the Declines in Housing Prices in the United

Multiple Choice

What effect did the declines in housing prices in the United States in the late 2000s have on the banking sector?

A) Most banks made a lot of money by betting against housing prices, leading to a general increase in bank profits.
B) Banks became increasingly willing to lend money to borrowers.
C) The resulting consumer mortgage defaults resulted in large profits for banks.
D) The resulting consumer mortgage defaults resulted in large losses for banks.