Having said his strategy is to stay under the Treasury/Fed umbrella, PIMCO fund manager Bill Gross is now cheerily suggesting that the umbrella be re-positioned a little to give him better rain protection. He wants Treasury/Fed to start buying the bonds that he owns:
Policymakers should not focus entirely on one-off bailouts of large real estate developers, municipalities, or even credit card issuers like they have with Citi, BofA, and AIG. Rather, they should recognize that supporting critical asset prices such as municipal bonds, CMBS, and even investment grade corporate bonds is a necessary step towards eventual economic revival.
Pick me!, as it were.