Despite gloomy predictions, the reactions of participants in the

Despite gloomy predictions, the reactions of participants in the Senate hearing represent an intensifying expectation that government regulators will avert the crisis onlookers had predicted previously and may perhaps bring about a period of sustained growth, succeeded by a safe and stable economic revival.

A. that government regulators will avert the crisis onlookers had predicted previously and may perhaps bring
B. for government regulators to avert the crisis, what onlookers had predicted previously, perhaps to bring
C. for government regulators to avert the crisis, something previously onlookers had predicted, and instead to bring
D. for government regulators to avert the crisis many were predicting previously, and rather to bring
E. that government regulators will avert the crisis that was predicted previously by onlookers, with it perhaps bringing

Out of the lot D seems best. Here is the reasoning :-

in A) may perhaps is redundant
in B) had predicted doesn't go with any past tense verb in the sentence
in C) Same as in B as far as tense goes;
in E) with it perhaps - no antecedent for it, the only singular antecedent that comes is crisis which doesn't make sense to go with the last part.

Hence I would go with D on this one