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Pimco to manage bailout? Huh? ?
Pimco is separately in talks with the New York Fed regarding asset-management services for a new program the U.S. central bank is setting up to purchase commercial paper. Isn't this double dipping? Looks like the Government still can't get it right.
PIMCO assumes debt, PIMCO paid by the Government to assume the debt, then sells paper for profit. Again, this sounds like a double dipping regardless of PIMCOs reputation.
1 Answer
- 1 decade agoFavorite Answer
Why do you find it objectionable?
The government frequently contracts for services that can be performed more efficiently or effectively by the private sector.
PIMCO has an excellent reputation and is one of the financial institutions that won't be going to the Treasury for a hand out.
Hope this helps
Jerry-the-bookkeeper
