OMG! This is a huge piece of news. These banker crooks are shifting the risk from themselves to US (at least us as in the good ol USA)! The other truely disgusting thing is that in the event of a default where the banks have to pay out on their CDS (like insurance) the buyers of the CDS will MAKE MONEY while the banks who have lost trillions will suck up to the FDIC for "protection".