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PIMCO's Bill Gross: The Fed Will Keep Lehman Afloat

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Bill Gross just appeared on CNBC to crush the rumor that Pimco was diminishing its exposure to Lehman Brothers either by reducing its trading positions with Lehman or reducing any investment in Lehman. In his comments he said that Pimco's willingness to continue to deal with Lehman Brothers and other potentially troubled securities firms is influenced by the Federal Reserve's "temporary" broker-dealer discount window.
Gross said that the discount window takes away any solvency risk on the part of Lehman, although he said that doubts about the business model of investment banks is most likely depressing Lehman's price. The reduction of leverage across Wall Street and the decline of businesses that were, in essence, dependent on a booming real estate market and attendant mortgage boom has raised serious questions about the future profits of investment banks.


Pimco: Bill Gross Can't Hurt Us Anymore

The firm claims to have picked up the pieces and moved on with its life, following the departure of Bill "I'm like Secretariat out there" Gross.

I'm sorry but I just don't recognize him. Source: Getty Images

Bill Gross Wants Pimco Put In A Time Out

It's almost like those bastards don't want to help him win $200 million in damages from them.