Bill Gross calls for a massive government bailout of housing speculators:
If we can bail out Chrysler, why can’t we support the American homeowner? ... Write some checks, bail ‘em out, prevent a destructive housing deflation that Ben Bernanke is unable to do. After all “W”, you’re “the Decider,” aren’t you?
Brilliant. Reward the mortgage fraudsters and housing speculators, and punish those who responsibly saved and didn't buy houses they couldn't afford. Use the tax money of the responsible to bail out the speculators, re-inflate the housing bubble, and assure that those who don't own a house now will never be able to afford one.
Bill Gross, you are Put On Notice!