[JasonC]

See post #8. The way Wa Mu was resolved spared taxpayers at the cost of closing the bond market to US banks.

[SeekAndFind]

The way Wa Mu was resolved spared taxpayers at the cost of closing the bond market to US banks.

Assuming it did, does that mean that the bond market will fail to trade again once the coast is clear ?

I highly doubt that. Don't get me wrong, there will be pain and suffering in the short term, but it will be better in the long run.