Date registered: Dec 2005
Location: United States
Mentioned: 3 Post(s)
Quoted: 469 Post(s)
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"The U.S. government needs to start using more of its money to support markets to stem a burgeoning "financial tsunami,'' according to Bill Gross, manager of the world's biggest bond fund.Bloomberg.com: Worldwide
"...Unchecked, it can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami,'' Gross said. "If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury.''
The government needs to replace private investors who either don't have the money to buy new assets or have been burned by losses, Gross said.
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