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Maurizio Pecoraro

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Fancy a Shag: Fall’s Fur Trends

This season, designers sent out messy furs, oodles of lamb, and shearling in droves. PETA, we suggest you avert your eyes.

By Amina Akhtar

Let the Bear Blame Game Begin

FINANCE • Bear Stearns followed up yesterday's Morgan Stanley announcement with its own $850 million loss, again the first quarterly deficit in the bank's history. [DealBook/NYT] • Is former Bear Stearns exec Ralph Cioffi, the guy behind the two Bear funds that imploded this summer, the main culprit in the subprime crisis? New reporting suggests his team set off the plague of dirty debt that cost Citi and other top banks billions. Oh, and Cioffi's under investigation for pulling out a couple mil before anyone else got the chance. [Business Week] • What a mensch: David Rubenstein, the former lawyer turned Citadel private-equity master, decided to keep his new copy of the Magna Carta on display at the National Archives. Rubenstein paid $21.3 million — chump change for a guy worth around $2.5 billion. [Law Blog/WSJ]