MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 2, 2011 Gross: Wall Street Sort of Lost its Way Bill Gross thinks that U.S. banks still have a long way to go when it comes to separating their retail and investment banking operations, Reuters reports. "Wall Street sort of lost its way, in that investment banking became a function not of allocating capital properly, but levering capital and levering the returns on capital as opposed to transferring capital to productive industries," said Pimco's [see profile] chief, in front of an audience of fundsters at the Schwab Impact conference yesterday. He added that investors need a banking system that is attractively and conservatively capitalized in order to regain confidence in the system. Printed from: MFWire.com/story.asp?s=38220 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |