Lessons For The Fed in One Man's $200 Million 2008 Derivative Loss

``I'm not alone in my skepticism. The former Fed economist Til Schuermann, who had a hand in designing the Fed's tests, thinks that they actually add risk to the system, rather than reduce it, a position he outlined in a 2013 Wall Street Journal op-ed. "The danger is that the financial system and its regulators are moving to a narrow risk-model gene pool that is highly vulnerable to the next financial virus," he wrote. "By discouraging innovation in risk models, we risk sowing the seeds of our next systemic crisis."''