Fascinating Bloomberg piece out about the $747-billion Pimco bond behemoth up in Newport Beach. The bond fund that Bill (Gross) built is monstrously big, so large that it accidentally smashes up other players, while allegedly hoarding attractive notes to itself and causing squeezes.
That is the allegation, anyway, made in a recent class action suit. It says that Pimco plays tricks and uses its bulk to bully other credit market players. Read the whole thing.