censeo

Housing Bubble and Real Estate Market Tracker

RE: Quote of the day; I find this: "Bill Gross, the chief investment officer of Pacific Investment Management Co., or PIMCO, on Tuesday lambasted rating agencies for failing to warn investors about the riskiest segments of the U.S. credit markets..." stunningly disingenuous. Does a chief investment officer rely on rating agencies? Anybody following the trend in flighty mortgage programs will have seen the writing on the wall. I'll assume he has kept himself informed. So, then, he's a greedy pig and a sheep following the flock off the cliff. Blame him and others like him managing funds with the attitude, "I don't care, the sky is blue today and anyway it's other peoples money." Who set up this mess. Not the rating agencies. Mr. Gross is the one on six-inch heels. And now he's stumbled and is saying the agencies bumped into him? Give me a break.