Debt

We Have a Winner, and His Name is Bill Gross 

Say what you will about the man, but PIMCO fund manager Bill Gross has clearly proven adept at getting his way throughout this credit crisis — and investors in his funds are reaping the rewards. The UK Telegraph reported earlier this week that the U.S. Treasury’s move to place Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] into conservatorship netted Gross and his fund $1.7 billion in profit.