05/10/2009 05:12 am ET Updated May 25, 2011

William K. Black: Bank Stress Tests "A Complete Sham"

The bank stress tests currently underway are "a complete sham," says William Black, a former senior bank regulator and S&L prosecutor, and currently an Associate Professor of Economics and Law at the University of Missouri - Kansas City. "It's a Potemkin model. Built to fool people." Like many others, Black believes the "worst case scenario" used in the stress test don't go far enough.