Wednesday, November 05, 2008

One is not amused

The Queen – or so The Daily Telegraph tells us - has demanded to know why no one saw the financial crisis coming.

During a briefing by academics at the London School of Economics on the turmoil on the international markets she asked: "Why did nobody notice it?"

Professor Luis Garicano, director of research at the London School of Economics' management department, had explained the origins and effects of the credit crisis when she opened the £71 million New Academic Building.

Prof Garicano later said: "She was asking me if these things were so large how come everyone missed it." He told the Queen: "At every stage, someone was relying on somebody else and everyone thought they were doing the right thing."

And so did we have the makings of a Right Royal ****-**, for which absolutely no one is prepared to take responsibility - while the guilty men get bonuses.