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Rating:Gross Says Financial Services 'is Not God's Work' Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 03, 2011

Gross Says Financial Services 'is Not God's Work'

News summary by MFWire's editors

Fundsters interested in Bill Gross' perspective on society and the markets may want to take a look at his latest "investment outlook" feature. In the February edition, the Pimco [see profile] star broadly attacks the financial services industry as not doing "God's work."

"As a profession we have failed miserably at our primary function -- the efficient and productive allocation of capital," Gross writes. "Financiers have lost their high ground and, if truth be told, we began to lose it a long time ago when we figured out that money was more than a medium of exchange or a poor substitute for a store of value."

Gross also writes about his worries over core inflation. Reuters covered the piece. 

Edited by: Neil Anderson, Managing Editor


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