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By early 2008, the lax standards started to show.
Reflecting the lax standards in national politics, the state was often manipulated by corrupt politicians.
The anthrax attacks also exposed lax standards for assessing employees with access to germ stocks.
Runaway lending and lax standards, which fuelled the boom and contributed to the crisis, were others.
With each inspection, the full scale of the lax standards becomes clearer.
A presidential commission investigating that disaster declared that lax standards caused the deadly mess.
These boards cost less and work quickly, but some have dangerously lax standards.
"It stems from weak discipline, lax standards, tardy reporting and few, if any, consequences," Mr. Grassley said.
Mr. Dimon also struck a conciliatory tone, acknowledging that the banking industry made mistakes with overzealous lending and lax standards.
Each case exposed systemic corruption and lax standards, and prompted queries as to why something wasn't done earlier.
That remark was endlessly recycled by right-wing pundits as proof of lax standards on the left.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com