"I've strongly suspected that the 2008 crash caused the org very serious financial losses via their hedge funds/stock market investments, resulting in near-fatal cash-flow problems.
Hence the property sales and unbelievable & punitive cost-cutting and money grabbing strategies invoked - to stave off Wall Street creditors.
Still believe this." (I do too, I worked with the banking system at that time and had NYC contacts daily, and they agreed that happened to many. Cash flow problems big time!)