gtm boardroom - a fable???

Picture this. Its late one evening last week in the GTM boardroom. All the GTM directors and senior management are present. Conversation - if thats the word for it - goes something like this:
Its not our fault Jumbo had problems
Its not our fault costs blew out
Its not our fault we almost ran out of cash
Its not our fault the bank put pressure on us
Its not our fault.....................
Get the picture?