The squeeze on mortgages has led to the entry of "credit crunch", along with the US source of the crisis - the "sub-prime" home loan to those with a poor credit history.

BBC: Credit crunch enters the lexicon

Another barrier to entry and innovation for alternative credit ratings models is simply the scarcity of data--in particular, identified defaults.

FORBES: Rating Agencies Should Get A Death Sentence

Cheltenham have introduced the Best Mate Season Ticket to attract punters to racing during credit-crunch times, which allows entry in to the Best Mate Enclosure for all 17 Cheltenham race fixtures.

BBC: Crowds flock to Cheltenham races