The fact that one-off stress tests took place at all is an admission of regulatory failure, Yves...

|By:, SA News Editor

The fact that one-off stress tests took place at all is an admission of regulatory failure, Yves Smith writes on NY Times’ Room For Debate blog. "The notion that a one-shot effort is a substitute for insufficient supervision is spurious," she says, adding regulators should at least began tests a year ago - after Bear Stearns proved they had no idea of what was going on with the banks.