Zero Hedge: Gross, El-Erian Rumored Replacements For Larry Summers

Of all people....

Gross, El-Erian Rumored Replacements For Larry Summers
(Tyler Durden, 9/28/2010 Zero Hedge)

"Rumor making rounds now that either of Pimco's top two men could replace the man who destroyed Harvard's endowment. Should either of these two be forced to quit Pimco, it would mean that QE would have to be massive to make sure that the Fed is a backstop of last reserve in case the next head of Pimco is unable to replicate his predecessor's success."

I bet it would be El-Erian. He was the president of the Harvard Endowment and quit just in time before the investments blew up. I'm sure he can hop out right before the US finally collapse, on his way back to the IMF where he was a deputy director, so that he can blow up the entire world.

But in between, either Gross or El-Erian may be able to make a sh-tload of money for the government by trading the government money with high leverage. 33 Liberty had better watch out...

Tweet