Comments on: Why Treasury ♥ Bill Gross

By: nick K

nick K — Mon, 22 Jun 2009 17:04:58 +0000

I have seen that article and comments. Gross cannot escape his connection to a deal there.

I still think we are experiencing foreign pressures beyond what is being exposed and that is driving this middle ground approach, rather than the savings and loan crisis which was isolated to the US. Not only are our banks heavily invested in by outsiders (and recently doubled down to meet knew funding requirements), but we created a global model and cannot attack it so aggressively as failed, or other governments will fail. And I think Gross knows it and is slightly opportunistic in that knowledge. So for him to say it would be a disaster I think does have merit.

By: DeDude

DeDude — Mon, 22 Jun 2009 16:07:01 +0000

Yeah nationalization would certainly be a disaster for Mr. Gross and his masters if the alternative is to hand them a zillion in extra profits at taxpayers costs. I guess the journalist didn’t feel like asking him why the thing that worked so well for the Swedish taxpayers would be such a disaster for the americans.

By: emmanuel117

emmanuel117 — Mon, 22 Jun 2009 12:57:59 +0000

@H.T.

It’s sad we have to live in such times where some of the safest investments are bankster investments.

By: H.T.

H.T. — Mon, 22 Jun 2009 12:42:22 +0000

Can’t say i disagree with prevailing view. But sometimes you have to turn a bad thing into something that works as an investor–

So that’s why the ONLY actively managed anything-fund i own is the PIMCO Total Return Bond fund. I saw the writing on the wall months ago with them in bed with the Feds– i knew i couldn’t beat ‘em, so riding the coat tails made financial sense, if not somewhat repugnant…

PIMCO is trouncing the AGG [the aggregate ETF bond fund] by 5% YTD, and it yields about 5.5%]

By: Mark E Hoffer

Mark E Hoffer — Mon, 22 Jun 2009 09:50:23 +0000

Jeff,

I appreciate that. Though, was, just, stating it again for the, impermanent, record/ nuevo ojos..~

By: Why Treasury ♥ Bill Gross…. Pimco & PPIP | The…. | Total Info

Mon, 22 Jun 2009 09:50:23 +0000

[...] That effort, known as the Public-Private Investment Program, or P.P.I.P., has gained little traction so far. But Mr. Gross has energetically defended its architect, Treasury Secretary Timothy F. Geithner, against critics like the New York University economics professor Nouriel Roubini and the New York Times columnist Paul Krugman — both of whom argue that the strategy is flawed and thRead more at http://www.ritholtz.com/blog/2009/06/bill-gross/ [...]

By: Transor Z

Transor Z — Mon, 22 Jun 2009 09:34:09 +0000

Sacha Baron Cohen as Ali G interview Noam Chomsky:

http://www.youtube.com/watch?v=4zPHAhj_Cio

By: CTB

CTB — Mon, 22 Jun 2009 04:17:56 +0000

Not you, DL.

I don’t have a muck list, but personal attacks and partisan bickering annoys me. Maybe I’ve just been reading so many posts that some of them seem redundant.

By: mark mchugh

mark mchugh — Mon, 22 Jun 2009 04:17:08 +0000

Or how bout this?

1) Set up a hedge fund.

2) Make an “arrangement” with a bank to bid $85 million on $ 100 million in worthless “assets”

3) Charge bank $10 million “consulting fee”. Put $8.5 million down, Geithner matches (8.5), get FDIC insured loan for $68 million.

Results:

1) Bank gets $85 million for toxic waste, plus expense of $10 million consulting fee (of which $8.5m was kicked back). (WIN)

2) Hedge fund defaults, but keeps $1.5 million of consulting fee (WIN)

3) Taxpayers absorb $76.5m in losses ($8.5m investment & $68m FDIC guarantee).

*- Repeat until even Zimbabwe is laughing.

~~~

BR: Along similar lines, see this:

How to Pay for National Health Insurance (December 8th, 2008)
http://www.ritholtz.com/blog/2008/12/how-to-pay-for-national-health-insurance/

By: DL

DL — Mon, 22 Jun 2009 03:53:25 +0000

CTB @ 8:47

So who’s on the “muck list”…?