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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (9656)7/11/2008 4:22:02 PM
From: Stoctrash  Read Replies (2) of 33421
 
<<Bill Gross, chief investment officer of Pacific Investment Management Co., the large Newport Beach, Calif., bond manager known as Pimco, said the firm bought a large amount of Fannie Mae debt Thursday. A default would set off "a firestorm of intolerable proportions," Mr. Gross said.>>

AKA...too big to fail..Gross knows.
This doesn't mean the stocks can't go zero, but buying their debt is very smart here, IMHO.
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