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The Circle Is Completed

Europeans laugh at United States misfortune? (Check).
Europeans grimly warn this is no laughing matter? (Check).
Europeans discover they have been just as reckless as the United States? (Check).
Europeans deny measures as dramatic as the United States took are required? (Check).
Europeans grudgingly admit they are just as fucked and pony up cash? (Check).
Europeans attempt to deflect blame on U.S. firm that is now powerless to defend itself? (Check).
Lehman Failure Caused $300 Billion Damage: Regulator [The New York Times]