debacle
debacle
de·ba·cle
n
1. A sudden, disastrous collapse, downfall, or defeat; a rout.
2. A total, often ludicrous failure.
3. The breaking up of ice in a river.
4. A violent flood.
“The debacle has affected not only Enron’s employees but tens of millions of holders of 401(k) and defined-benefit retirement schemes. ”
-Robin Blackburn, The Enron debacle and the pension crisis