Quality Control

The U.S. economy has slowed to a crawl, or even fallen into recession, experts say, largely because establishments that should know better — from banks to homebuilders to securities firms — abandoned time-honored financial principles. Now, as Business Week reports, the sub-prime mess is being followed by a credit card crunch. What happened to quality control and risk management at supposedly sophisticated financial giants? What can other industries learn from this debacle?

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