$.65 On The $1
That is what Bill Gross thinks the Government will pay for distressed mortgage debt. And he thinks it will be a good deal for the taxpayers. Here is an opinion he wrote in today's Washington Post. I agree with his assessment. I also think that when the price is set for these securities, other buyers will jump in the market and the cost to the Government may be less than is being advertised. I also think the calls for executive compensation, while populist, are missing the big picture.