This article is the third in a series dealing with the problems of hazards and hazard management. In the first article the full range of hazard impacts and consequences was explored. In the second, some thorny generic problems that beset hazard management were discussed. The present article is the first of several case studies focused on the federal regulatory effort. In treating the Consumer Products Safety Commission it surveys the problems of one of the newest and most innovative regulatory agencies. Later articles will focus on other case studies, as well as on the theoretical issues they raise. Much of the work to be included in the series has been or is being done at Clark University by the Hazard Assessment Group or individuals and organizations associated with it.