Bill Gross on Lehman

"We at PIMCO know exactly what our counter parties are, we know exactly how much we have on with Lehman.
There are 10s of billions of positions that have to be re initiated."

"What is missing from this rescue plan is the addition of capital as opose to liquidity, so the market awaits that in order to support prices."

"They (the Fed) will consider interest rate cuts down the road."

"AIG is a solvent company and the stock does not reflect that solvency."

"We need an additional balance sheet to prevent asset liquidation. We need a buyer of assets."

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