Greg Weston

Another Big Bank Failure: More Likely Than Not to Occur

Credit Suisse and UBS may be the next big financial institutions to fail. In CS's case it might have been a little more conservative than other major banks, but it the case still remains that either one of these banks is far too big to bail out by the Swiss government as they hold assets many times the GDP of Switzerland.

Even the GDP to assets ratio does not tell the whole story, because Swiss central government is very weak compared to other national governments. Small infusions are likely, but the money simply doesn't exist for a large scale bailout as we saw with all the major U.S. and UK banks.

Felix Salmon has some good articles on this topic if you are interested.

Stunning Reversals: Is This a Market or a Casino?

Another great article Mish.

I second the poster above, I'd love to hear any insight you may have on who/what/where/when sold CDS on any GSE instrument taking a haircut.

Brad Delong here suggests that the bailout is going to prevent any CDS from being triggered:
seekingalpha.com/artic...