Select each correct answer. Credit Default Swaps (CDS) on Collateralized Debt Obligations (CDOs) helped to exacerbate the financial crisis because

		the bursting of the housing bubble in 2008 led to a steep decline in the value of the CDS
		some issuers of CDS ultimately couldn't pay the required default payments to CDS holders and they needed to be bailed out by the Federal Reserve
		government guarantees on FHA and VA loans underlying the CDOs contributed to a large budget deficit and lower government spending
		investors who held the CDS had incentives to purchase more CDOs, inflating the housing bubble