Posted AT 10:07 AM EST on 15/09/08
Pimco's Gross sees credit crunch worsening
NEW YORK — Pimco's Bill Gross Monday said the global credit crunch is worsening after Lehman Brothers' filed for bankruptcy protection stemming from mortgage-related losses.
“It continues to get worse,” Mr. Gross told CNBC television.
Mr. Gross is chief investment officer of Pacific Investment Management Co., which oversees more than $812-billion (U.S.) in assets.
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