Uncontained, Again.Michael Panznerupdated Nov 21, 2011TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity. It may have originated in the eurozone, but the current crisis looks to be following along the lines of the one that began in the U.S. subprime mortgage market four years ago. That is, a problem that authorities assured us was "contained" (the Bernank's famous last word) and resolvable has morphed into one that is uncontained and more dangerous by the day. As the chart shows, an average of credit default swap (CDS) spreads for 71 countries around the world has now surpassed the peak seen in September and is hitting its highest level since April 2009. (Simply put, CDS are bets on the creditworthiness, or lack thereof, of a particular borrower.). While skewed higher by fiscal basket cases such as Greece, in particular, Portugal, Venezuela, and Pakistan, the overall trend is clearly to the upside -- which is not, despite repeated assurances from those "in charge," a good thing (unless, of course, you're a clueless equity trader who still doesn't quite understand why credit markets matter). Time to get those helmets on? Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.