Discuss the below in detail:
Q: The subprime crisis features many candidates for a culprit:
1. Extension of subprime loans by banks, e.g., lax lending standards.
2. Securitization and the CDOs.
3. Rating agencies.
4. CDS (looks innocent so far, but still a key character)
5. Large financial institutions that made the losses.
Consider one of the possible culprits above and prepare a 2,000-word max paper on why it was considered a culprit and what could have been to avoid it becoming a problem in the first place.
Attachment:- References.rar