I think all the vasts will be gone soon. I haven't seen a vast at my office in ages.
Clue - most of the current market troubles (yes, Shekky, everything is overvalued, but the investors wouldn't care but for...) are related to the emergence of accounting "irregularities." The investors and those who advise them feel lost without reporting they can trust.
Can this happen any(every)where else? Of course it can. Greed can cause management to ignore consequences and all the other folks in the food chain can lose their meal ticket.