Why a Greek Default Could be Worse Than the Lehman Collapse

he 2008 collapse of Lehman Bros Holdings Inc. (PINK: LEHMQ) ignited a financial meltdown that resulted in widespread bank failures and caused the Dow Jones Industrial Average to lose 18% of its value in just one week. Yet a Greek default - which (even with a bailout) becomes increasingly likely with each passing day - would actually be much, much worse in many respects. Sure, it's possible that European Union (EU) taxpayers will soon be dragooned into yet another rescue plan. But that would only delay the inevitable - a catastrophic collapse that will drudge up feelings of panic we haven't witnessed since the global financial crisis hit its apex nearly three years ago. Here's why.