Bill Gross is the Managing Director of the world’s largest bond fund. Gross explains that what the government has done to tackle the financial crisis has been too ad hoc and too late. He also says capitalism, as we’ve known it for the past 30 years, has changed forever.
Gross has offered to help the Federal Treasury Department value the mortgages and sub-prime assets it has been appoved to purchase through the recent bailout package – FOR FREE. As far as I know, he has not been contacted by the Treasury.
For PIMCO, a company he founded, he manages over $720 billion in assets. Bill Gross may be able to do a better job than all the ex-Goldman Sachs executives the Treasury department has been bringing in to determine which assets get purchased with the bailout money.