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In an audit of a small credit union, what appeared to be a bank deposit turned out to be a mutual fund sold to the credit union by a bank. There was no prospectus in the file, so I had one faxed by the bank. It was a mutual fund invested primarily in commercial paper, which is not legal for the credit union to invest in. I looked up some of the financial institutions whose paper is most heavily represented in the mutual fund's pool of commercial paper. Most of them were heavily loaned out to Enron. The mutual fund made up--get this--111.23% of the credit union's net worth. I made them immediately eliminate the investment, which they did without loss. It was a shoestring catch.