paradigm shift here. how can the financials now roll over some $200b in debt when it was tough already when the market thought they were treasuries?now that they are junk risk premiums go through the roof the fed might regreat this one.. http://www.bloomberg.com/apps/news?pid=20601087&sid=atys50sprMvE&refer=home
Gross does get stuffed every now and then. He was also caught with a boatload of WorldCom bonds several years back.