Royal British economists beg mercy

British economic experts sent a letter to Queen Elizabeth II with an explanation why they were able to provide crisis with mortgage loans, announced today Obzarvar Journal.

The letter, signed by members of the Committee on Monetary Policy Bank of England Tim Beslan, alleged that the reasons for the financial collapse are complex, but it’s a failure of collective imagination of many clever people, indicating the newspaper.

The letter was sent after the queen asked when visiting the University of London Economic why has not provided any mortgage crisis.

The letter of three pages that explains how cheap loans stimulating feeling that well, which disguised the global imbalance of savings and debt. Surreal dreams and financial magicians arrogance led to believe that they have found a way to spread risk over the whole financial market, indicating the authors of the letter. Failure began emerging after the connection was not made between multiple minor imbalances outside the jurisdiction of any of the existing institutions are mentioned in the letter.

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Finance