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Or was that schadenfreude chic?

This week FT columnist Robert Shrimsley paints a prose portrait of the financial district's newfound enthusiasm for shabby chic, concluding with this memorable image:

Vanity’s Fair’s renowned photographer Annie Leibovitz will organise a group photo of the Wall Street giants all sporting knock-off Rolex watches and wearing their favourite Wal-Mart suits. 

John Bunyan and William Thackeray are no doubt looking down and toasting the idea at this very moment.  

P.S. What is it about fallen idols and fake Rolexes?