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The phrase of the day is "Lehman Moment" as everyone's wondering if Europe is facing one with Greece. But if you think the analogy is as simple as: A Greek default would be a total disaster, just like Lehman was, you're not thinking broadly enough. What really makes this so Lehman-like is this idea that investors are still convinced that the EU/IMF/ECB won't possibly let Greece default, all the way up until the last second.
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Hedge funder Kyle Bass is on CNBC right now talking Europe: And he's negative. He expects a Greek default, and doesn't think an orderly default is plausible. Actually, he agrees with Geithner that there won't be a Lehman because he ... Read Post

Is Greece Lehman or Bear? Neither, argues BTIG's Mike O Rourke. We have come to the realization that Lehman is not the correct analogy, Countrywide Financial is.  Countrywide was the first “real” financial company to succumb to the ... Read Post

Europe has hundreds of billions of reasons to try to keep Greece from unceremoniously ditching the eurozone. If Greece leaves, the rest of Europe would face catastrophic losses, Reuters reports. Greece would default on the roughly $... Read Post