ANOTHER ONE GOING DOWN

To be honest the situation can differ from company to company, and I don't think blaming "Senior Management" is the answer, no matter how inviting and popular it is. I have been to companies where the company was brought to it's knees because of a raise demanded annually by a Department and that led to another department demanding a rise, not because they needed it but because they weren't going to be left out and that would go on through out every department. The company was constantly on strike because of the continuing merry go round of pay rise demands and in the end 1,800 jobs went.
The CEO of Rio Tinto has just stepped down because he was held to blame for the purchase of two companies that were over valued by assessors to the tune of £9 billion. He didn't handle the purchases himself and had to go with purchase because the Stock owners and the advice of his Financial Managers....and paid the price. Having said that he won't leave the company a poor man.
I have in my career as a "trouble shooter" been called into organisations where "Senior Management" realised there was a problem with the company but couldn't a lot about it because middle management were holding them to ransom because they'd kept vital information to themselves, or for other "political" reasons. I have found in many cases it is middle management that has led to the down fall of companies due to various bad decisions, bad management, and down right dishonest reporting to Senior Management of the situation.
I can understand the reason for the muck throwing at Senior Management but I have seen too many cases where it is not that simple.