Securitization protocols that were by then existent and leading in the market scenario and used to distribute assets broke down and breached safety barriers as the extent of the deterioration in credit standards was revealed to the public and the financial community by Standard and Poor’s ratings, which were downgraded for many top-level financial firms and investment banks. The process of valuation uncertainty rose sharply, to an extent that was never observed before, and particularly for more complex products and services where informational problems were most acute and miscommunicated options usually lead to humungous losses for investors. In what has been described as a gradual meltdown that culminated in an avalanche in mid-2008, end-investors were reported to have lost all confidence in various credit rating methodologies available to the financial community. Asset prices of several assets fell below acceptable levels, a phenomenon attributed to credit fundamentals, whereas liquidity and uncertainty premia of various long-term assets increased significantly. Added to this, the opacity in the distribution of voluntary exposures across financial institutions had added to heightened perceptions of counterparty credit risk, most of which occurred in interbank markets.