Sean Mc

Bill Gross Says 'Jump.' Will the Fed Once Again Say 'How High'?

I agree as I usually do with Bill Gross's recommendations, but I don't think it is aimed at the real problem. Extending credit eases the short-term liquidity crisis but does nothing to increase the solvency of financial institutions holding MBS. I also like Glen Hubbard's ideas on directing relief to homeowners by allowing them to refinance for 30-year fixed at 5.25%. About a year ago, Bill Gross came up with the idea of the government buying up 1 million vacant homes and knocking them down. I think he was joking but I wish he wasn't.