Business self regulation fails again... This time it's the food industry.

Remember the food poisoning cases from peanuts?

Private food inspections by food companies are a recipe for disaster.

WASHINGTON (AP) - The mortgage meltdown exposed the weakness of self-regulation in financial markets. Now the salmonella outbreak is doing the same for the food industry.

A House subcommittee Thursday released new documents that showed how private inspectors contracted by Peanut Corp. of America failed to find long-standing sanitary problems at company facilities. Peanut Corp. is at the center of a nationwide outbreak that has sickened nearly 700 people and is blamed for at least nine deaths.

Lawmakers said the food industry's private inspection system failed to catch filthy conditions because the company itself hired the inspectors.

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