Bill Gross: US Banks Need More Capitalization
November 2 — .U.S. banks have not done enough to ensure they are well capitalized, and getting back to a system where retail and investment banking are separated would be attractive in terms of reform, Bill Gross, manager of the world's largest bond fund, said.
"Do we have a better example today than MF Global in terms of the mingling of those two particular aspects of capital allocation," Gross, who runs the $242.2 billion Pimco Total Return portfolio, said at Charles Schwab Corp.'s IMPACT conference in San Francisco. Read more.
