I'm definitely not saying this is so, just saying it makes an interesting what if. They are couynterparties to everybody so it's impossible to overstate the potential damage.
It's been long enough since the heyday of the financialized commodity boom that I wouldn't get to say I told you so anyway.
http://www.zerohedge.com/news/2015-09-11/glencores-doomsday-plan-insufficient-cds-resumes-rise-quest...
