Posted on 09/24/2008 10:36:33 AM PDT by rightinthemiddle
Why don’t we just put Gross and Pimco in charge of the nation’s finances?
Gross is inseparable from Pimco, beholden to them and the positions he advocates are inseparable from those that would benefit his company financially.
Lately, he has been a primary cheerleader for Fed/Treasury schemes as they happen to coincide with his interests. A bailout, or even a proposal of one, results in B$ change in Gross’ personal and managed assets.
People really need to find a more objective commentator.
I don’t know that - thanks for the info!
I said commentator, not instigator.
So you think Bernanke is an instigator?
These so called "youngsters" made millions in salary and bonuses for coming up with these derivatives and making them work. They could care less about a downturn. All they cared about is the money they took away from the casino table
No doubt about that! I recall numerous articles over the years reporting just that.
I just heard that the auto industry in getting $25 billion -- ditto their concern for America. They will likely be adding the billions to the billions already in China. We're living in a Monty Python movie except it ain't funny. Just a teeny tiny bit of sarcasm. :)
Co-instigator.
If only he had as much insight as his slavish followers think he has, maybe he should have been like Paul Revere in warning the national audience of the dangers of Fannie & Freddie.
I don't know how many times I heard him repeat the phrase... "The full faith and credit of the United States government." He's just another government lover!!!
Although, lately, he's been very helpful in arguing the case for US to DRILL, BABY, DRILL!!!
By the way... What's ever happened to Ginnie Mae???
No, no, no, that’s not what I meant! All three GSE’s (Government Sponored Enterprises) Fannie, Freddie and Ginnie are in the mortgage business with Ginnie even more closely tied to government gurarantees than the other two and suddenly now, nobody talks about Ginnie! What’s up with that???
Well...not sure,...but maybe they didn’t screw the pooch like the other two did.
Well maybe so, but I still wonder if it weren’t a case of “the Three Stooges!!!”
“well, he’s right to point out one thing: this is not a gift, its a purchase of assets - at a discount to their original value.”
Bernanke outright said that he would like to purchase assets ABOVE market value. Call me a silly goose but purposely overpaying is equivalent to gifting.
And that is much less than the hold to maturity Market Value......
the point is that market value is depressed below the hold to maturity value. The Treasury may make an impressive return on these assets in fact.
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