Sigma Level …

Recognition that integrity and a good quality system are the proper
foundations and a Six Sigma initiative can’t overcome the lack of
either?

Isn’t Sigma Level inherent to the observed process? Isn’t it also true that a better comparison of processes is their respective DPMO, PPM?What issue needs to be debated? The performance of banks in what regard?a potential loss function measuring what? Brain cells from trying to decipher this post?

Bad debt – could analyze causal factors for default and factor those into underwriting; don’t know that naybody did – they didn’t when I was in lending – had 4 or 5 underwriting factors derived from years of history…may or may not have been valid.
Accountable to Shareholders – can’t think of how this may have been impacted. SS provides data and potential process improvements; how mngt interfaces with shareholders is an entirely diferent story.
Savers & pensioners – too vague; have no idea
Prevent credit crunch – no way! Actions were driven by market forces, greed…data would have no impact on that.

Hi Andy, I’m not qualified to comment on the global-ness of the economic situation. Have to leave that to others.
As to your second point – I don’t believe it’s damning on Quality or SS; much more on mngt. Consumers/investors don’t have access to truth and mngt, even the ethical ones are so driven by short term market forces they can’t manage properly. Example – a real estate lender had better play the “no qualification” and other “over-lending” games or they would not make loans. They play to the competition or go out of business. So, if the market is crazy – you either play crazy or get out.
That’s why bailouts are horrible – you fail, you fail – end of story. Someone who can succeed will take your place – guaranteed!!!

We can only hope and keep trying…..