Queen Asks Why No One Saw The Credit Crunch Comming

November 5th 2008

The Queen has questioned why so many experts had completely failed to see the worlds latest financial crisis looming ahead, branding the current situation as "awful".

During her recent visit to the (LSE) London School of Economics, she was was briefed on the start of and the effects of the credit crunch by professor of economics Luis Garicano.

"Why did nobody notice it?" the 82 year old monarch asked, adding that the effects and turmoil created was "awful".

Garicano explained to her that "At every stage, someone was relying on somebody else and everyone thought they were doing the right thing."

The Monarch was visiting the London School of Economics to open a new building funded by university beneficiaries  including the founder of budget airline easyJet, Stelios Haji-Ioannou.

The queen is worth some 320 million pounds (397 million euros, 513 million dollars) according to the 2008 Sunday Times Rich List. This now puts her some way behind Harry Potter author JK Rowling.

It is extramly rare for her or senior members of the Royal Familyto comment on current affairs and these are her first public remarks on the issue.

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