Analogy about current global credit crisis from Knowledge @ Wharton article,
"an ill-constructed levee, filled to the brim with bad debt and breaching under the pressure of massive over-leveraging"
As per the panel fo Wharton finance professors, the real risk is overseas, particularly in Europe. If things turn sour for Switzerland's two big banks, UBS and Credit Suisse, a cascade effect across the global markets could have implications that are impossible to assess. Because the value of the assets held by those banks is six times the gross domestic product of their home country.
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