PIMCO's Gross Says Fed Must Act as Clearing House and Buy Commercial Paper

PIMCO's Gross Says Fed Must Act as Clearing House and Buy Commercial Paperhttp://www.mortgagenewsdaily.com/10062008_gross_commercial_paper.aspThe head of the world's largest bond fund said the Fed needs to take additional steps to calm markets and instill confidence. Bill Gross , managing director and co-chief investment officer at PIMCO, said the Federal Reserve must act as a clearingenCommunityServer 2008 SP2 (Build: 31106.96)