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 thinks that Greece’s counterparties will be defended and stay capitalised.
But it will be messy, and a lot of people will lose a lot of money.
So yeah, all glum and bad news. The only positive thing he said is that when it’s all over, we’ll still be alive to start all over.
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