Dimon: Impact of Greece Default on U.S. Banks Almost Zero

[Parsad]

Jamie Dimon says that a Greek default would have almost zero direct effect on U.S. banks, but there could be some indirect effect.  Cheers!

 

http://www.cnbc.com/id/46144727

[Zorrofan]

Given how interconnected the global financal system is, i find that hard to believe.....

 

cheers

Zorro

[alertmeipp]

I believe him.

You will have to be nuts to not to prepare for Greek default (IMO, it already did.)

[alpha231616967560]

Later in the article, he says "The real issue is Spain and Italy."

 

I think that he is just pointing out that Greece is small enough and baked into Europe's economic cake enough that it isn't going to cause any major ripples. Most investors in Greece have already taken some write-down.

 

The real problem (Italy, Spain default which seems very likely to be the beginning of a much wider domino effect if it happens) would definitely not be "Almost Zero" and I think that's exactly what he's saying in a roundabout way...