MATTEL CHINESE-MADE TOY RECALL UP TO NEARLY 19 MILLION

From CNN Money:

Mattel Inc. Tuesday recalled more than 9 million toys made in China and sold in the United States, including "Polly Pocket" and "Batman" dolls and other popular figures, because of loose magnets and lead paint - its second major recall in less than a month.

The recall affects 9.58 million imported toys sold at toy stores, discount stores and other retailers nationwide dating back as far back as May 2003. Worldwide, Mattel said the recall includes nearly 19 million toys. The company said the recalls would cost about $30 million.

The recall is the latest development in the growing crisis over the safety of Chinese products. Chinese officials have gone out of their way to stress the safety and quality of its exports, blaming the problems on a small number of companies. Earlier this month, China's Commerce ministry blacklisted 400 export firms following the recent product safety scares.