Pimco's Bill Gross gives an interview to the Financial Times ahead of Tuesday's Treasury department conference on housing finance:
Some conservative politicians and policy experts have suggested that the agencies should be privatised and the government's involvement curtailed.
Mr Gross, the founder of the Pimco and manager of its $239bn Total Return Fund, said such a move would, in effect, cause him to withdraw from the market.
"Without a government guarantee, as a private investor, I'd require borrowers to put at least 30 per cent down, and most first-time homebuyers can't afford that," said Mr Gross.
He really wants that government guarantee.
by Ira Stoll | Aug 12, 2010 at 11:45 am
Related Topics: Bill Gross, Capital Markets Regulation, Housing, Press
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