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In forming its defense against SEC charges of fraud, the investment bank seems to be throwing VP Fabrice Tourre under the bus and says it lost money on the deal in question. Do these claims hold water?

Desperate times call for desperate measures, yes, and times don't get much more desperate than they are in the newspaper industry right about now. But are they really so desperate that they require a wholesale rewriting of copyright law -- one that could utterly stifle the dissemination of news and...