PIMCO poised to become the Federal Reserve’s PIMP-CO
October 12, 2008 by Poppa Bear
By Anthony M. Freed, Your Mortgage Or Your Life
PIMCO’s head pirate Bill Gross is set to put his mouth where his money is, and the Federal Reserve may officially anoint the World’s largest bond fund as chief paper-pusher for the Wall Street Bailout debacle in yet another blatant example of insider sweetheart deals struck at the American taxpayer’s expense.
Fed Eyes Pimco to Manage New Facility: The New York Federal Reserve on Wednesday said it was in discussions with Pimco about managing assets in support of a new mechanism through which the government can buy massive amounts of unsecured short-term debt.
Much like the ethically challenged JP Morgan deals of late, it seems PIMCO just happens to be in the right place at the right time to become one of the chosen few to who will repeatedly benefit from the nation’s financial troubles while simultaneously trying to pawn himself off as some kind of savior.
It is clear now that the fox has struck a devils-deal with the farmer’s dog, has free run of hen house, and is opening a fried-chicken joint. Read more….
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