Word: lax
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...social worker from Tennessee who, during tearful testimony, recounted a 2006 incident in which her Lexus ES350 accelerated uncontrollably. "Shame on you, Toyota, for being so greedy, and shame on you, NHTSA, for not doing your job," said Smith, referring to the National Highway Traffic Safety Administration, whose apparently lax oversight has made it a target of the inquiry...
...Toyoda won't be the only one in the crosshairs on Wednesday. Transportation Secretary Ray LaHood will speak on behalf of the National Highway Traffic Safety Administration (NHTSA), the regulatory body whose apparent lax oversight - since 2003 it opened and closed eight investigations of Toyota vehicles due to customer complaints - was pilloried on Tuesday. Accounts of NHTSA's failure to piece together a pattern of customer complaints have made the group one of the saga's twin villains. "Shame on you Toyota, for being so greedy, and shame on you, NHTSA, for not doing your job," said Rhonda Smith...
...subprime disaster? For anyone who remembers that souring subprime loans kicked off the real estate meltdown, that's a scary thought. Recent analysis from Standard & Poor's (S&P) anticipates that a full 37.5% of such loans (dubbed option ARMs) that were written in 2007, at the height of lax lending, will eventually go bad. The kicker is that most option ARMs undergo payment spikes after five years, which means the brunt of the impact has yet to be felt. That will change in late 2010, delivering another blow to the fragile housing market just as it begins to regain...
...deals designed to sucker us into predatory rip-offs we can't afford or escape. And the CFPA is supposed to be the new sheriff in town. It would be an independent agency empowered to write and enforce rules for financial products, so that banks would no longer enjoy lax consumer regulation - and nonbanks peddling loans from hell would no longer escape just about all regulation. It would be like a financial version of the Consumer Products Safety Commission (CPSC), the Food and Drug Administration (FDA) or even the Environmental Protection Agency...
Even Costa Rica's vaunted green luster has begun to brown. Its rain-forest protection and ecotourism are still envied in the Americas; Chinchilla says she's committed to Arias' goal of making the country carbon-neutral by 2021. But Arias has been accused of lax national-parks preservation and pandering to open-pit mining ventures in Costa Rica...