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The past decade has by many accounts been an era of grand ambition, flawed management and wasted treasure for all the military branches.
Both of those agencies were faulted by government investigators for lax inspections and flawed management practices at the plant.
The inspector general of the Postal Service, Karla W. Corcoran, told a Senate subcommittee that the service makes too many flawed management decisions.
The 59-page report said that because of flawed management decisions "none of the teams were fully operational and none of the 10 teams had received certification".
There is no guarantee that they will make it past the quarter-finals come next summer but at least you know that a potential failure will not be the result of flawed management.
And basic government functions like providing schools, clean water, and roads are suffering as a result of Karzai's flawed management.
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The toxic ingredients that led to that Wall Street firm's implosion are abundant in the Gulf of Mexico disaster: flawed risk management, systemic hazard and regulatory incompetence.
And Tuft's Amar Bhidé's recent "A Call for Judgment: Sensible Finance for a Dynamic Economy" touches on many aspects of this critique, but looks at it more from an organizational perspective: How rational expectations and efficient markets became embodied in deeply flawed risk management techniques like the Black-Scholes options-pricing model and value-at-risk tools.
But the investigation by a House Science and Technology subcommittee found it crippled by serious design flaws, management blunders and runaway contractors.
The bank's value at risk (VAR), a (deeply flawed) risk-management measure of how much it might lose in any given day if markets turned against it, increased from an average of $39m in 1999 to $138m by the end of 2007.At the time investors, far from being alarmed, were egging banks on.
In his testimony, Mr. Dimon concedes the C.I.O.'s risk management was flawed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com