Forget Greece, Traders Are Worried About Something That Could Send Us Back To The Middle Ages

A Greek default has been on everyone's minds lately. But the traders Cashin has talked to think that it's just the tip of the iceberg. The bigger fear is what happens in the credit default swap (CDS) markets. No one knows how big it is, who the counterparties are, and, worst of all, whether the CDS contracts will actually trigger in what many would consider a default