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Louise Wilson, who directs the master's program at Central Saint Martins (sort of the FIT of London), tells Cathy Horyn that she thinks today's aspiring designers have no edge. "I think the problem is that fashion has become too fashionable. For years, fashion wasn’t fashionable. Today fashion is so fashionable that it’s almost embarrassing to say you’re part of fashion. All the parodies of it. All the dreadful magazines. That has destroyed it as well, because everybody thinks fashion is attainable." Also, a tip for prospective students: If the director of a prestigious art school asks you about the last movie you saw, for the love of God, come up with something more obscure than Tom Cruise's Valkyrie. [On the Runway]