If I may paraphrase what I think RussT is proposing (or perhaps my own variation):

When a BH forms it recreates the conditions of the BB on a smaller scale (not quite infinite heat, but off the charts asymptotically, beyond the boundaries of GR), the fallout being identical to the accepted post-BB evolution, only creating a single galaxy rather than an entire universe. The role of the singularity here is really just a placeholder for our lack of understanding of how we get from BH back to a matter-creating mini-BB. (to fill this dreaded theoretical void, I would suggest that sub-Planck length physics are at work and wave my hands at superstrings)

Some questions I would have for such a model:
- if the BB functions directly in relation to expanding space, how does each 'mini-BB' affect expanding space?
- is there any evidence that GR only works up to a 'limit' of mass/energy, at which point unknown physics take place?

Problems this model might answer:
- quasars would be an excellent candidate for 'matter-creating post-BH objects' from which galaxies are born (explaining their rediculous energy output as direct evidence of 'new physics' at work)
- Dark Matter is reinterpreted as a product of the 'new physics' associated with a matter-creating galctic core, which exposes the 'limit' of GR over galactic scales

It's interesting to note that this model doesn't appear dependent on either an expanding-space BB or an SU cosmology (but I could be wrong).

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