The Queen blamed slipping standards within the financial system and weak regulation for causing the 2008 crash during a visit to the Bank of England on Thursday.
Sujit Kapadia, one of the bank’s policy experts, admitted to the monarch that the system had become “complacent”, to which she replied: “People got a bit lax … perhaps it was difficult to foresee.”
The Queen also said that the Financial Services Authority watchdog “lacked teeth” to intervene.
Her husband, The Duke of Edinburgh, was more direct, asking “there’s not another one coming, is there?” He then warned Kapadia “Don’t do it again.”
The couple were touring of a vault packed with £27 billion worth of bullion.
Queen highlights 'lax' standards in the City
