More accurately, if you look at Pimco’s holding of MBS’s, much of it flirting with sub-prime or in areas where RE valuations will be impacted by sub-prime meltdowns, Gross is asking for a bailout of Pimco.
Trouble is, state legislators in places like NJ and California are talking about exactly this sort of bailout.
Sadly I know, but as a Texan, if NJ and CA want to wreck their states economies for the next decade the I can not stop them.
“trouble is, state legislators in places like NJ and California are talking about exactly this sort of bailout.”
So is Bush.