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Archive Home > 2008 > September > 25 > Major firm offers to oversee the bailout effort — for free

Major firm offers to oversee the bailout effort — for free

Some are wary of what PIMCO manager says is a philanthropic gesture, warning that any private-sector influence in the rescue would constitute a conflict of interest

By Edward Wyatt / The Bulletin
September 25, 2008

NEWPORT BEACH, Calif. — One of the chief concerns about the Treasury Department’s $700 billion bailout plan is that the same Wall Street firms that helped create the crisis could make a killing cleaning it up.

William Gross, the manager of the country’s largest bond....

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