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Posted In: Crash Prophets
From our sister blog Investorazzi.com earlier today:
“Bill Gross: U.S. Government Must Ride To The Rescue”
Sphere: Related Content“Common sense can lead to no other conclusion: if we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury – not only to Freddie and Fannie but to Mom and Pop on Main Street U.S.A., via subsidized home loans issued by the FHA and other government institutions.”
September 6th, 2008 at 12:46 am
Common sense dictates that, since it is the Fed who issued trillions of extra credits out of thin air to finance useless activities, namely the bubbles of the past decade, which finally is proven to be worthless, the trillions of losses should now be returned back to thin air. Accounts balanced. Lessons hopefully learned. And, Mr. Gross, no bailouts to anybody who participated in the scams. Including you.
September 8th, 2008 at 8:46 am
Thanks for the comment TomK.
“And, Mr. Gross, no bailouts to anybody who participated in the scams. Including you.”
It will be interesting to see if Bill Gross will be able to take a neutral stance on housing now that PIMCO is heavily-invested in mortgage-backed bonds.