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  • cohsgrad cohsgrad Oct 31, 2011 11:57 PM Flag

    Regulators forced bankruptcy.

    I worried about the high employee turnover but aside from that I don't see how anyone could have seen it coming. Fraud is virtually impossible to identify from the outside.

    Sure wouldn't want to be an employee involved in keeping the books there. They will have to get some serious bonus payments but most likely pay the forensic accountants an absolute fortune to sort things out. If it is material this is an instance where the public accounting firm should pay a heavy price.

    It's twisted, but I can't wait to find out what caused the meltdown. I do not think it was a classic bank panic.

 
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