# In an op-ed, Prof. Roy Smith explores the implications of Citigroup's stress test failure

1 Faculty News April 7, 2014 ![Financial News logo ](/sites/default/files/styles/246w/public/assets/images/con_030513.jpg?itok=TpE2KEls)>

Excerpt from [Financial News](http://www.efinancialnews.com/story/2014-04-07/us-federal-reserve-stress-tests-citigroup-warning?mod=promosmod=promos&ea9c8a2de0ee111045601ab04d673622) -- "But the real story may be that the Fed, itself under new management, truly wants to be a different type of regulator – one that is going to be strict, proactive and controlling. The post-crisis environment certainly creates an expectation for such a regulator, one whose stress tests, for example, are taken seriously. Rejecting Citigroup, without much explanation, might be an indicator of this transition."

[Read more](http://www.efinancialnews.com/story/2014-04-07/us-federal-reserve-stress-tests-citigroup-warning?mod=promosmod=promos&ea9c8a2de0ee111045601ab04d673622)