In the 1980s junk bonds were regarded by many investors to be an ingenious way for new companies to raise capital, but in the 1990s it had come to be a symbol of the excessive risks and irresponsible trading that helped cause the recession.

A. regarded by many investors to be an ingenious way for new companies to raise capital, but in the 1990s it had come to be a symbol of the excessive risks and irresponsible
B. by many investors regarded to be an ingenious way for new companies to raise capital, but in the 1990s it came to symbolize the excessive risk and irresponsible
C. then regarded, by many investors, as being an ingenious way for new companies to raise capital, but in the 1990s they came as a symbol of risking excessively and irresponsibly
D. regarded by many investors as an ingenious way for a new company to raise capital, but in the 1990s they had come to symbolize the excessive risk and irresponsible
E. by many investors regarded as being an ingenious way for new companies to raise capital, but in the 1990s they came to be a symbol of the excessive risk and irresponsible

OA D

Source: Princeton Review