I just read the following:

In order to move GC 25 basis points higher, in a very rough estimate, the Fed needs to drain between $310B and $800B in liquidity.

And it is not difficult to imagine what draining of that kind of amount is going to do to some of our highly leveraged bankers/derivative speculators.

Systemic risk. It will be the image of a stuttering Hank Paulson and 2008 all over again.