Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Gross Weighs in on Bank Nationalization Debate Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, February 25, 2009

Gross Weighs in on Bank Nationalization Debate

by: Armie Margaret Lee

Pimco's managing director Bill Gross has voiced his opposition to the idea of nationalizing banks.

"Regulators are overwhelmed as it is, and if you thought Lehman Brothers was a mistake, just standby and see what nationalizing Citi or BofA would do," Gross stated in his March investment outlook.

"The goal of future policy should be to recapitalize lending institutions while maintaining the basic infrastructure of credit markets. Outright nationalization and haircutting of creditors will do just the opposite," he added.

Gross' March investment outlook takes the form of a hypothetical Q&A session between himself and members of a congressional subcommittee.

"One things I've never done... is provide expert testimony in front of a congressional subcommittee," Gross said. "Newport Beach probably doesn't have the cachet of Wall Street or perhaps my style has always been a little irreverent or my brain a little irrelevant -- I'm not sure. In any case, I thought I'd create my own virtual testimony to a hypothetical committee delving into the complexities of our financial crisis. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use