The Next Matryoshka Event?

Most people are familiar with Russian matryoshka dolls, figures that, when pulled apart, contain smaller versions of the original figure that can also be pulled apart to reveal more of the same.

In some ways, the crisis in the financial sector seems to have a lot in common with those nested dolls. Every time something goes wrong at one firm or in one segment of the market, another disaster-in-waiting suddenly appears, ready to be unleashed.