Deloitte is the famous firm that presided over fudged numbers, failed disclosures and fiddling of reserves at firms such as Bear Stearns, Washington Mutual, Merrill Lynch and American Home.

FORBES: Incorrigible: Fannie Mae and Freddie Mac Must Go

As far as we know, there have been no civil, criminal, or disciplinary proceedings initiated against audit firms or audit partners for the audit failures and bankruptcies, forced acquisitions and government bailouts of Lehman Brothers, Bear Stearns, Merrill Lynch, Washington Mutual, New Century Financial, Countrywide, American Home, and on, and on.

FORBES: Why No Warnings? Investors Press Audit Regulator