validate fails: No rule to make target `fast'

I'm getting this build failure from a:

make maintainer clean
perl boot; ./configure
CPUS=2 sh validate

===--- building final phase
make -r --no-print-directory -f ghc.mk phase=final validate_build_transformers
cd libraries/transformers &&
"/Users/tibell/src/ghc/bindisttest/install   dir/bin/ghc" --make Setup
[1 of 1] Compiling Main             ( Setup.hs, Setup.o )
Linking Setup ...
cd libraries/transformers && ./Setup configure
--with-ghc="/Users/tibell/src/ghc/bindisttest/install   dir/bin/ghc"
--with-haddock="/Users/tibell/src/ghc/bindisttest/install
dir/bin/haddock" --enable-library-vanilla --disable-shared
--disable-library-prof --global --builddir=dist-bindist
--prefix="/Users/tibell/src/ghc/bindisttest/install   dir"
Configuring transformers-0.3.0.0...
cd libraries/transformers && ./Setup build   --builddir=dist-bindist
Building transformers-0.3.0.0...
Preprocessing library transformers-0.3.0.0...
[ 1 of 24] Compiling Data.Functor.Product ( Data/Functor/Product.hs,
dist-bindist/build/Data/Functor/Product.o )
[ 2 of 24] Compiling Data.Functor.Compose ( Data/Functor/Compose.hs,
dist-bindist/build/Data/Functor/Compose.o )
[ 3 of 24] Compiling Data.Functor.Identity ( Data/Functor/Identity.hs,
dist-bindist/build/Data/Functor/Identity.o )
[ 4 of 24] Compiling Control.Monad.Trans.Class (
Control/Monad/Trans/Class.hs,