S&P Warns Greek Event Would Qualify as a Default

If the Greek default is labeled as such, 5 large American TBTF banks will be vaporized over their derivative exposure.  Why do you think the 50% write-down was labeled a voluntary default??

• GREECE IN ALL LIKELIHOOD WOULD QUALIFY AS A DEFAULT: CHAMBERS
• S&P'S CHAMBERS SAYS IT'S NOT GIVEN THAT GREECE DEFAULT WOULD HAVE DOMINO EFFECT IN THE EURO ZONE