Too many auditing firms were signing off on BS that consulting firms were feeding their clients.
At the time I was working for a hospital which was audited by KPMG. When we met with them they said they were writing a management letter to the board that we were not aggressive enough in our investments.
I suggested to them that they cut that part out unless they were willing to mention Orange County's BK.
They were so dumb that they didn't realize we owned a large percentage of a Physician's practice that was eventually sold to UHC and we reaped a $135M profit. Not bad for a small non-profit hospital.
Edit: The IRS was so pissed they said you can't take it all at once so we had to set up a foundation to give money away.
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