http://www.ifre.com/new-cds-trigger-event-proposed-to-tackle-bail-in/21085486.article
I don't believe that whatever rule they adopt is ever going to unleash the CDS bomb.
You may recall how the MF Global scandal lead Ann Barnhart to abandon her business. Looks like the ISDA's handling of the Greek CDS market is having a similar effect:
More: http://globaleconomicanalysis.blogspot.com/2011/10/credit-default-swaps-useless-as-hedge.html
Hmmm... I wonder what might be a viable alternative...
:gold: