Their mistake was in not anticipating a down-turn in the price of oil.  Little doubt that they figured on the public not caring, because as long as they got their dividends, all was good.  Suddenly, the people care!  Surprise, surprise, surprise!  Now there is a mad scramble by them, handing out money and favors like mad, so that they can at least assure themselves of a good paying job outside of Alaska's government.