The Queen of England asked a simple question: Why didn’t any of you ninny’s see the worst recession in several decades coming?
As a result, a group of economists wrote to the Queen directly trying to explain why no one had enough foresight to predict the timing, extent, and severity of the global economic crisis.
Personally, I wouldn’t buy any excuse they tried to sell her, but having economists point out "a failure of the collective imagination of many bright people" and also acknowledge the “psychology of denial" that gripped the financial and political world that spurred the crisis is appreciated.
They basically told her, “We’re sorry we goofed, your majesty.”
There are some people who believe apologies are worthless. I am not one of those people. I am all for the notion of owning up to your mistakes, especially if those mistakes almost caused an economic meltdown so severe that many of us may have ended up living like cavemen – only with Blackberries.
Banks owning up to the fact that their racist predatory loans helped cause the housing crisis that led to our current plight won’t change the fact that many people are now homeless after taking on pay-day like loans, but if they don’t admit their mistakes publicly, who is to say it won’t happen again?
Same for those greedy, seedy, Wall Street executives who knew exactly what they were doing and what would be the ramifications of their actions. It’s pretty clear that many won’t suffer any jail time for their actions, though wouldn’t it be nice if they at least pretended to care a little?
How many of you at the very least, would like an apology from those who have forced you to entertain thoughts of channeling your inner Diamond from The Player’s Club and put you back on the Spam and Ramen meal plan?
I’m waiting on everyone who voted for George Bush to send me a heartfelt apology to my inbox, myself.
Leave your comments and below and share your recession story with me at firstname.lastname@example.org
Michael Arceneaux hails from Houston, lives in Harlem and praises Beyoncé’s name wherever he goes. Follow him on Twitter.