Creditability Ratings

"The story of the credit rating agencies is a story of colossal failure." Representative Henry Waxman, 22 Oct 2008

"There are four key firms behind the credit crunch who have suffered nothing like the exposure they deserve. They are: PricewaterhouseCoopers, KPMG, Deloitte, and Ernst & Young. They audited all the serious players. They have signed off the accounts of all the banks on a going concern basis that have either now gone bust or needed emergency funding." Accountant Richard Murphy, Tax Research UK, 25 Sep 2008