Jas: Bill Gross Is a Shameless Crook

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Subject:	Bill Gross Is a Shameless Crook
Date:	Fri, 29 Oct 2010 07:29:53 -0700
From:	Jas Jain

Bill Gross Is a Shameless Crook

Looks like lot of people have caught on to Bill Gross's bad record in forecasting the bond market. Please see the blog quotes below. How does someone with such a bad record in forecasting the bond market make money? By being in bed with the US govt just like the Crooks at Goldman Sachs. This Crook has made billions of dollars at the expense of the US taxpayers via influencing the govt policies regarding Fannie, Freddie and the mortgage market. Stealing from the US taxpayers is the favorite pastime for America's banking and finance Crooks. Federal Reserve's policies are specifically designed to help Corporate Crooks, in general, and banking and finance Crooks, in particular. All at the expense of who?

Don't forget Gross's famous quote regarding govt artificially lowering rates on existing mortgages that don't qualify: "It is not legal and it is not fair, but I support it." The Crook wants to make tens of billions more if his prescription is adopted by the USG. Why is this Crook not in jail?

Jas

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Update: PIMCO's Bill Gross has called end of bond rally before

http://www.calculatedriskblog.com/2010/10/update-pimcos-bill-gross-has-called-end.html

 

And from Reuters in June 2007: Pimco's Gross says he's now a "bear market manager"

Gross forecast that benchmark Treasury yields will range higher than previously thought, prompting him to acknowledge he is now a "bear market manager" after a quarter of a century as the global bond market's most powerful bull.

On June 7, 2007, the ten year Treasury yield was 5.1%.

 

From Bloomberg on March 27, 2010: Pimco's Bill Gross Says Bonds Have Seen Best Days

"Bonds have seen their best days," Gross said in a Bloomberg Radio interview ... Yields on two-year U.S. Treasury notes are likely to rise to 1.25 percent to 1.5 percent from 1.08 percent in the next year as the economy strengthens and the Federal Reserve begins to increase interest rates, Gross said.

On March 26, 2010 the Ten Year Treasury yield was 3.86% (now 2.65%)