Queen Elizabeth II wonders why no one spotted credit crunch. They did, ma'am. Warren Buffet, George Soros, and Hyman Minsky, among others. Especially Hyman Minsky, who died 12 years ago. His analysis was very strong: the root of financial insecurity lies in the perception of financial security. In particular, he explained that some derivatives are a Ponzi scam. In law, a Ponzi scam is illegal. In finance, the scammers sometimes get burned when their scheme collapses, but it seems that they are above the law.
So far, anyway.
Thing is, your Maj, that a herd mentality takes over. Dissenting voices are ignored.