Bill Gross from Pimco was on CNBC today, Friday, 10/24/08. Below are a few sound bites from Bill Gross.
"Almost all of the financial institutions are in the process of deleveraging....it doesn't have to do with fear....its just a forced selling event."
Stocks are down 40% Global Stocks are down 45-50%
"The Commercial paper program needs to be implemented....the Tarp plan has to be implemented quickly. The money has to get from the private sector to the public sector quickly."
Is there a Bull Run on the horizon Bill?
"From a certain price point here, and we might be their shortly, a bull market could be soon forming."