Bill Gross on Mortgage Meltdown
He calls for massive bailout... OK, but don't re-ignite the speculation, get back to reality and require reasonable standards.
Personal responsibly means just that ... you are responsible for your obligations.
PIMCO Bonds - Investment Outlook- September 2007 "Where’s Waldo?":
"During times of market turmoil it helps to simplify and get basic – explain things to a public and even yourself in terms of what can be easily understood. Goodness knows it’s not a piece of cake for anyone over 40 these days to understand the maze of financial structures that now appear to be unwinding. They were created by youthful financial engineers trained to exploit cheap money and leverage who showed no fear and who have, until the last few weeks, never known the sting of the market’s lash. They are wizards of complexity. I, however, having just turned 63, am a professor of simplicity. "
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