The Big Short - What Happened in the Big Short?

Evergrant hasn't made hundreds of millions of dollars of interest payments on bonds since september. Fitch rates it is an r d, a restricted default s and p is an s d, a selective default. Moody c a c a c one, rated as poor quality and has very high credit risk. These are not selective, restrictive, high credit risk sorts of things. This is a full on default. When you fail to make interest payments and when you fail to making principal payments, that's called a default. Those are full out defaults. End of story. That's how i read thisi don't think the system could support a default of this size? I know