Sep 4, 2008

Bill Gross on intervention needed to prevent "financial tsunami"

Unchecked, it can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami. If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury.

~ Bill Gross, "U.S. Must Buy Assets to Prevent 'Tsunami'," Bloomberg, September 4, 2008

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