Bill Gross Gets `A’ for Effort on Trader Greed: Terrence Keeley

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It’s not every day you get to peer into a billionaire bond trader’s soul, but Bill Gross affords everyone that rare opportunity in his latest investment outlook, Devil’s Bargain. In addition to his usual, trenchant market analysis, the monthly newsletter is part confessional, part prescription for all that ails the financial world.

“As a profession, we have failed miserably at our primary function: the efficient and productive allocation of capital,” the founder and co-chief investment officer of Pacific Investment Management Co. writes. “This country desperately requires a rebalancing of priorities.”

It’s hard to disagree with Morningstar’s Fixed-Income Fund Manager of the Decade here. Wall Street greed helped precipitate the Great Recession. Common justice requires we now be part of the solution, rather than the problem.

Gross saves his harshest criticism for those in the money business who have used their positions of privilege for the sole purpose of enriching

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By Bloomberg