Most organizational cultures, or understandings of what a company values and how things are done, are established by top management and cascade throughout the company.
The central government, in response to the 1990s crisis, took bad loans off the books of the four largest banks by having newly formed asset management companies buy troubled assets at above-market values.
The SEC raised serious doubts, but apparently decided recently to take no further action, concerning asset values reported to investors in Stillwater Capital Partners, a money management firm whose assets were acquired by Gerova Financial Group last year.