not a bailout - Rescue Plan Will Make Money - Bill Gross

This is not a bailout, it is not save this bank or that bank. This is to restore the whole credit system and your job and your retirement. It will keep folks in their homes, it will lower foreclosers.

Bill Gross explains how this rescue plan will make money -- and Bill Gross would manage (price discovery) for no fee.

Pimcos Bill Gross says that Pimco would work for no fee (if everyone else worked on the same basis) and managed the returns from the Paulson Plan. http://financialbriefs.wordpress.com/2008/09/24/pimcos-bill-gross-says-that-p...

Sep 24, 2008 ... El-Erian told Reuters that without hesitation he would help manage the Treasury's fund for no fee
http://www.reuters.com/article/bondsNews/idUSN2446672820080924

http://www.clusterstock.com/2008/9/bill-gross-pimco-will-manage-bailout-fund-...

Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/23/AR20080923023...

Category:

News & Politics

Tags:

• $700B
• Bill
• Gross
• bailout
• rescue
• plan
• forecloser
• CNBC
• make
• money
• bank
• home
• Washington
• Post

[danriverdale]

I get so tired of people pointing to vague smartness credentials. Gross is selling snake-oil.

[kguy70]

yea - sure - like you know anything

[sumerian2]

Stop being so pompous-I'm skeptical of the numbers, everyone has a right to be at this point given the load we've been expected to shovel. I didn't get us into this mess-they did so I'm suppose to just shut up and be a good little taxpayer and not ask any questions? I'm paying for this cr*p so stop riding MY back.

[kguy70]

not shutup -- but take into account experts that say a) this must be done and b) there is ample room (statistically likely) that this will make money -- it is not spending -- but rather investing with real potential for real return -- doing nothing will cost a lot too as the ecomony down turns --- sure it is a raw deal -- but doing the plan and making some money and helping everyone here -- is cool actually

[sumerian2]

I'm sorry but I don't buy the average is $65 and I do see friends around me losing their homes at a rate much greater than 26%, more like half of them are in foreclosure.

[kguy70]

so you live in a .20 area -- Gross is the fixed income and bond king -- he knows this area cold -- once the system returns to more normal conditions the depression in these packaged bundles will left -- Warren Buffet also stated exactly the same -- huge profit in being able to do this -- so you are smarter/wiser than Gross and Buffet -- I would guess not

[xmenrus]

The problem is so obvious: The Federal Reserve gets paid back off the top. The Federal Government takes any profit and spend it on pet projects. And the taxpayer is left holding the hat! These talking heads need to get real.

[andrewh23]

"Rescue Plan" BULL! The money isn't going to help people keep their homes. It is to keep the bank executives rich and make more risky lending decisions without consequences. For some reason, all the papers are calling it a "rescue plan" today. You can call Chocolate Sundae with whip cream initiative and, Guess what, It's still a bailout. Stuff it. Anyone who tries to see you a sure-bet investment is a conman.

[sumerian2]

OK you go take that risk and leave my money out of it. I gotta go and actually work for a living to pay my own debt. BYE!

[kguy70]

a) Gross is way smarter than you b) these numbers are for 1000's of mortgages where a small percent within the bundle are in trouble -- making the bundled package value today at .65 on the $1 -- he clearly states some are .20 on the dollar, some are .85 on the dollar -- with an apx. average being .65