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BP listed a number of failures committed onboard the rig, which was operated by Transocean.
But the Regents are still struggling with how to keep the number of failures down.
"Incentives are needed to help address a number of failures in the market for these products.
At the time of the exchanges, Chinese-made kick motors had suffered a number of failures.
"The number of failures of card readers to operate surprised us.
"I've had an astonishing number of failures in the theatre," he told me.
Regulators shut down four small banks, raising to 44 the number of failures this year of federally insured banks.
Simple mathematics shows that reducing the number of failures by 5% cuts the cost of discovery by nearly a fifth.
Regulators on Friday closed a small bank in Minnesota, bringing the number of failures this year to 73.
Each day, the exchanges publish a list of stocks for which there has been even a very small number of failures to deliver.
Banking analysts say that the number of failures could easily reach several hundred in the next 18 months as rising commercial real estate losses take their toll.
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