by Calculated Risk on 11/07/2008 12:08:00 AM

From the Sydney Morning Herald: Queen baffled at delay in spotting credit crunch (hat tip Martin)

The origins and effects of the crisis were explained to [the Queen] by Professor Luis Garicano, director of research at the LSE's management department ...

Prof Garicano said afterwards: "The Queen asked me: 'If these things were so large, how come everyone missed them? Why did nobody notice it'?"

Yeah! Hey, Hoocoodanode?!