phat cat

Lehman CDS Datapoint of the Day

This is interesting, i just read another comment that Oct. 21 is the "armageddon date" where 100's billions of CDS is going to be physically settled and major funds/banks are going to fail. Shouldn't the government come out and clarify this? The CDS market is so opaque, a quick resolution to clear up the total liabilities and who're the major losers (I'd think these are the institutional investors like asset managers and hedge funds) and who are the winners.