... big time market players are calling for some type of government intervention - in their own market no less. According to market watcher
Newsmax.com industry leader and bond guru Bill Gross is now saying "the government must move in support of home prices to make sure the credit markets don’t melt down." But Gross really lets his competitors in the credit markets have it with this:
"In my opinion, the private credit markets have forfeited their privileged right to operate relatively autonomously because of incompetence, excessive greed, and in minor instances, fraudulent activities ...”
This says alot. It will be interesting what kind of description he uses before "fraudulent activities" in a year.
- Mark
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