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September 4, 2008

Bill Gross: Pick Me! Pick Me!

Am I the only one irritated by the fawning treatment given Pimco's Bill Gross and his commentary today? His implicit threat of a bond buyer's strike -- he wants the Fed to get off its ass and backstop Freddie/Fannie -- is so deliriously self-serving. He is into mortgage-backed bonds and FHM/FRE up to his neck, and now he wants Treasury to bail him out or he'll stop buying? How lovely. And, oh yes, I'm highly fond of the "new balance sheet" euphemism than he coins in the piece.

[via Pimco]

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