Bailout Erin Burnett CNBC Video: 'Hairdo Bill' Gross Has A New Firm PIMP-CO And We Are All Employees
This is a 9 minute video of Bill Gross of PIMP-CO Investment Advisors. He tells the Fed and Treasury what to buy so by extension we taxpayers are his street bitches. (I'm not a misogynist in real life. I just play one on the web. If my language makes you enraged, call Geithner right now at 202-622-2960. Tell him to stop listening to Bill Gross and to start listening to you.)
I haven't watched it because I can't. I tried. I gave him about 8 seconds and I stopped it. I could feel his book opening and he was about to tell somebody at the Treasury who they needed to bailout next.
I think he was going to say GE. Which only means 1 thing. He's finished building his position in GE paper.
Somebody shoot me. I'm so sick of writing this blog.
When I was just a trader I could bypass this shit easy. Mute button, turn the chair. Now I have to present it and it's killing me slowly, yet assuredly.
He probably talks about the bank bailouts and says we need to keep injecting capital and crossing our fingers. And he likely tells Bernanke to start buying more GSE paper. Oh and he's not done building his position in the securitized asset-backed stuff yet so he won't mention that.
Those are my guesses. Somebody watch it and tell me in comments. You could be saving a life by not making me watch Bill Gross. And if it works out, we'll just make it a regular policy for all Hairdo Bill videos.
CNBC's Bullshit Propaganda Article on GE
Mar 5, 2009 at 3:52 AM
Reader Comments (8)
Bill Gross: "GECC is levered to a considerable extent 5 to 6 to 1 ..."
David Faber: "Obviously I remember that letter you wrote many years ago, Bill of course, and they do to. Um, you know you said 6 to 1. I mean, this thing is really levered at about 20 to 1 in its tangible equity I believe at GE Capital - about 32 billion versus a 600 or so billion balance sheet."
Ouch!