I reckon they were conned SS and it just spiraled out of...

I reckon they were conned SS and it just spiraled out of control. Their desperation for funding clouded their judgement BUT also, it is now obvious that management was not as magnificent as a lot of people made them out to be. It is only now being pointed out (and I missed it also) that at no point was it ever mentioned either where Crosio got his doctorate or what he was a doctor of.

I made the analogy yesterday about a gambler who just chases their losses in the hope of one big win and I think that's what happened when they realised the deal was bogus... they probably believed they could find a way out of it without coming clean but they instead just dug themselves further into a hole.