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An apology fit for the queen
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Published: July 27, 2009
LONDON - Sorry Ma'am - we just didn't see it coming.
A British newspaper reported Sunday that a group of eminent economists have apologized to Queen Elizabeth II for failing to predict the financial crisis.
The Observer newspaper reported a letter has been sent to the Queen after she demanded last November to know why nobody anticipated the crisis.
The letter says "financial wizards" who believed that their plans to manage risky debts and protect the financial system were infallible were guilty of "wishful thinking combined with hubris."
The Associated Press
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