mpridhamI also think the US banks would want to see an unwinding...

mpridham

I also think the US banks would want to see an unwinding of the complexity of structure/assets in the US portfolios similar to what is rumored to be happening here in AU with individual security against individual assets, and not unsecured to CNP but to particular assets.

I can also see this happening as it gives the banks something to hang their hats on if it all goes to pieces. The bonus here is that they would only have claim to certain assets and not all in my understanding. But I'm no corporate lawyer.

Dutchy