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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

Charts showing credibility ratings of credit raters and auditors

More about auditors and credit raters:

Re: The Auditors
www.retheauditors.com

Association for Accountancy and Business Affairs
visar.csustan.edu/aaba/auditingpage.html

Triple-A Failure (Roger Lowenstein, New York Times)
www.nytimes.com/2008/04/27/magazine/27Credit-t.html



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