As in victory, so in defeat. This appears to be the approach of many bumbling Wall Street titans, who are looking to get out of trouble in much the same way they got into it: by ruthlessly imitating one another. First, they plunged one by one into the subprime housing market and its mysterious consort, structured credit. When the bubble burst and blew a hole the size of a vacant McMansion in their balance sheets, they began their pell-mell rush around the globe to raise fresh capital from the mysterious arms of various state-controlled agencies.
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