Greece = Lehman in 2012?

The thought in the mind of every finance freak on the planet while they reassure everyone all is wonderful in order to avoid the panic which might be coming anyway.

CNN:

Is Greece the Lehman of 2012?

That seems to be Wall Street’s tune these days. Sure, investors are worried about Europe. And they should be. But so far, the market is acting as if the recent turmoil in Greece is merely a repeat of last summer — and not the second coming of 2008.Stocks have pulled back from this year’s earlier highs, but it’s been a fairly orderly sell-off, not a full-blown panic.

That’s just like a year ago. Investors were giddy in the first few months of 2011 until they came to grips with the fact that Europe’s woes were not going to be solved overnight. But they also realized that Europe would not sink the entire global economy.

Flash forward a year and it still appears that the market is prepared for, and not afraid of, potentially nightmarish scenarios in Europe.

Many experts believe an eventual departure of Greece from the eurozone is already priced into stocks, bonds and currencies. The return of the drachma may not necessarily be analogous to the bankruptcy of Lehman Brothers — especially since Greece’s crisis has been playing out since early 2010.

“Is this a Lehman-like event? Banks and markets have been preparing for this for years,” said John Canally, investment strategist for LPL Financial in Boston. “And the global economy is in a lot better place than it was in 2008.”

Does anyone else remember after Bear Sterns croaked in an orgy of Paulsoneque merger frenzy the reassurances that Lehman had enough cash, and even if they didn’t the economy as a whole was fine?

Greece?

It’s all ok people.

The world is in a much better place than 2008.

The banks have enough cash, and even if they didn’t ….

Well, the fed always has those plates.

What d’ya think, Sept 15, 2012 just for the helluvit?