Guess what? The bankruptcy filing of Lehman Brothers on September 15 triggered payment of its CDSs. Everyone involved paid their obligations, finishing up yesterday - and that was it. No drama, no cascading failure, nothing.
Of course, you won't hear about that from the MSM, which doesn't care about collapses that don't happen - because they won't help Obama get elected. I had to read it at Power Line. You can, too, if you want all of the explanation.