http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2007/IO+September+2007.htm
I do not usually post this type of stuff because the majority of people who read my blog will most likely read Bill Gross monthly commentary and you don't need to see it twice but this was so jaw dropping for me that I thought in case someone hadn't read it, it should be readily available on my blog.
I couldn't believe that Bill Gross was calling for a government bailout of the homeowner. It took me a second to recompose myself before thinking through it. I am not ready to sign off on it but I think he does actually make some decent points. Definitely was a first as I have not heard that suggestion from anywhere else where the government should take a fiscal approach versus a monetary approach. Create a RMC (Reconstruction Mortgage Corporation) similar to the RTC in the early 90s and the RFC back with Roosevelt.
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