The Borrower Bailout Fallacy: Why PIMCO’s Bill Gross is Flat-Out Wrong

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Gillian Tett feels sorry for BIll Gross, who was caught unaware by the. Um, how about Pimco's own chief economist, Paul McCulley?. It does NOT crowd out private spending, at least not until the excess. For evidence, look no further than the impact of government borrowing on long-term interest rates in.

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A growing chorus of regulators and consumer activists were joined this past week by PIMCO’s Bill Gross in calling for a borrower bailout. It’s sort of like listening to the same song in different. With the last night’s decision, the 2nd Greek bailout package is finally on its way.

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By Keith Hennessey, Douglas Holtz-Eakin, and Bill Thomas….. But financial firms were not alone in the borrowing spree: from to , na-. kets churned out riskier and riskier loans and securities, many financial institutions.. Yet a crisis of this magnitude cannot be the work of a few bad actors,