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Which of the following is not a phenomenon during the 2008 financial crisis? U.S. government defaulted on its debt. Banking-sector leverage was extremely high, and

Which of the following is not a phenomenon during the 2008 financial crisis?

		U.S. government defaulted on its debt.
		Banking-sector leverage was extremely high, and banks faced severe funding problems.
		Households faced severe debt problems due to mortgage borrowing and high leverage.
		Housing price dropped and mortgage delinquency rate increased.

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