Gross, Bond King: Greed Will Soon Return To Wall St.

Reuters:

NEW YORK (Reuters) - Bill Gross, the influential investor who runs top bond fund Pimco, said on Wednesday that greed will eventually become the norm again for consumers and investors, but fear continues to rule for now -- a mindset that will result in subdued U.S. economic growth for some time.

"Greed will come again. But for now, the trend is the other way and it promises to persist for a generation at a minimum," said Gross, the co-chief investment officer of Pacific Investment Management Co.

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Read the whole story: Reuters

Comments

[totalliberal]

Return? Are you serious.

[robinhood1]

The new cap and trade system will usher in the next era of greed. A handful of speculators will make fortunes gaming the system and the rest of the country will pay for it. Why didn't the House just pass a new energy tax? I hope the Senate rejects cap and trade. We need more honesty in government not more lobbyists.

[CaptainHowdy2]

Return???

When the h-e-l-l did it ever leave???

[dolphy]

Greed never left wall street. Who the h are you kidding?

[brownstoness]

FINANCIAL INDEPENDENCE DAY - STARVE THE BEAST

We're udnergoing a delveraging process. Expect the DJIA to bottom at 5000 or lower.

Americans are starting to come to their senses. The savings rate reached 6.9% last month,
the highest level in 15 years. This brought the level up to the long-term average. As usual,
the pundits on CNBC have concluded that now that we've reached the average, everything is
roses and the consumer can resume their free spending ways and save our economy. These fools
have no concept of history, averages or cycles. The savings rate has been in a downward
spiral for 30 years. Consumers have lost $14 trillion of net worth and 5,000 per day turn
65. Most people have miniscule retirement savings and 14.7 million are unemployed. The
savings rate will go up for the next two decades as people must save.

hat tip to: http://iamned.blogspot.com 4 the good articles

[rbchilds]

Greed never left Wall Street, it just took a Sanford vacation with the politicians. As soon as Wall Street coerces the administration to release the remaining Tarp funds into their coffers Greed will be King again.

[TJCole]

Return..?

Who does he think he's kidding, greed will soon return, "soon return", that's rich...LOL­..!

Return....­LOL..!

[doneflyin]

Yes Bill it will be another generation because this generation has been tapped out.
So the Money Boys will have to wait a bit for another generation of suckers.
As one poster pointed out, 15 trillion has been leeched out of our pockets. Now thats a chunk of change! It should keep you boys in homes, yachts, trophy wives and BMers for a few years anyway.

[olddognewtrick]

RETURN? Thank God it wasn't greed that got us here this time!

[Tinsdale]

"Greed Will Soon Return to Wall St."
In other news: Sun Likely to Rise Tomorrow.

[hulagirrrl]

Are they ready to leave Washington, that was quick.

[scooperss]

Will return??

Didn't know it had left and sure can't prove it to me.

[smiththomas]

Jimmy Carter government returning will effect us more than future actions on wallstreet.

[TrooAmerican]

hah! who says it left?
is anyone there for moral values? or philanthropic purposes?

[vandegrasse]

Greed and getting what you need to survive are two different things altogether. Greed steals from the resources of those who need, thereby increasing need and diminishing the resources of those who are not greedy. Greed unbalances the pool of resources on which societies depend for stability.

[samaire]

Greed has never left wall street , sad.

[MED1025]

What she said.

[sonofsamphm1c]

If people did not aspire to make money, you would be where? Waking up each morning to search for nuts and berries.

The majority of the greed involved in this was on Main Street. The vast armada of home builders, real estate developers, real estate agents, real estate appraisers, and mortgage originators worked in an office not far from where you live. Blame Manhattan all you want, it won;t change the fact that your neighbors were major players in what has happened.

There will be no jobs until somebody gets greedy enough to want to try and make money.

[vandegrasse]

Yea, what they both said!