10/2/2007

Bill Gross, managing director of Pacific Investment Management Co., says falling home prices will overshadow a host of other issues when it comes to the Federal Reserve's policies in the future. Gross also said that Treasury Secretary Henry Paulson and Fed Chairman Ben S. Bernanke would need to reconsider the entire system in which banks, which are heavily dependent on the Fed's decisions, are the financial world's driving force.

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