madasiwannabe

Bill Gross: Politicking for His Own Bailout

I don't think PIMCO is losing a nickle. In fact they are one of the biggest benfiniciaries of Freddie and Fannie's crash. Gross, along with his hired gun Greenspan, has been bashing the GSE's since Paulson's backstop plan announcement. All he wants is larger spreads to buy into and with a government backstop, there's no risk in running the GSE's out of business. My guess is he's hoping a government bailout would over extend the treasury and run government bonds down too. If anything, this is the biggest fleecing scam ever attempted. He should be having long talks with the SEC instead of Erin on CNBC.