From Osher Doctorow

COPYRIGHT NOTICE
Black Holes As Initial Rather than Terminal Objects
Copyright By Owner Osher Doctorow Ph.D.
First Published 2005

Although black holes appear to be collapsing stars and were in fact
discovered based on that scenario, indications are accumulating that
they also have an expanding dimension and that they may be creating
universes or parts of universes.

One indication is the fact that in my Invariant-Interaction thread
recently, the scenario that was most plausible was the progression from
low control of forces in different directions in black holes and other
singularities to higher control of forces in different directions in
the (later) non-singular parts of the expanding universe or expanding
parts of universe scenarios.

More direct indications come from recent papers in arXiv on instability
of black holes. If black holes tend to be unstable, then the picture
of black holes concentrating (and so in a sense controlling) enormous
tidal forces and as such being highly causal in the same sense that a
force causes motion would arguably be replaced by a picture of black
holes being closer to "chaotic" lack of control of forces in different
directions which is more in the spirit of instability. The expanding
non-black-hole universe, on the contrary, exhibits no known sign of
chaotic lack of control of forces in different directions, but rather
an expansion which with the more recent period of acceleration involves
forces working in the same (outward) direction.

See "A black hole instability in five dimensions?" by Donald Marolf and
Amitabh Virmani of U.C. Santa Barbara hep-th/0505044 v2 29 May 2005;
"Reconsideration of the Regge-Wheeler equation," by G. Tian, S. Wang,
Z. Zheng, Beijing U. Physics and Beijing Normal U. Physics and Academy
of Mathematics and Systems Science, gr-qc/0509030 v1 9 Sep 2005; Brett
McInnes of Singapore National U. Math. Dept. "Stringy instability of
topologically non-trivial AdS black holes and of deSitter S-brane
spacetimes," hep-th/0205103 v5 1 Apr 2003; etc.

Osher Doctorow