Bill Gross Supports Taxpayer-Backed Mortgage Refi Initiative

The head of the world’s biggest bond fund reignited debate Tuesday by publicly supporting a massive new refinance program currently roiling the mortgage bond market by describing it as a form of fiscal stimulus that wouldn’t add to the deficit. Pimco’s Bill Gross said that policymakers “should quickly re-engineer” a plan that would refinance all non-delinquent mortgages backed by the federal government. – HuffPost

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