Bill Gross deeply saddened as Moody's affirms Aaa rating for the US

Updated

Poor Bill Gross! The $747 billion bond maven who has enjoyed countless benefits from the U.S. bailout of Fannie Mae and Freddie Mac and some juicy looking government contracts -- such as his $251 billion commercial paper program and its $500 billion fund to buy mortgage-backed securities -- can't get his predictions right. In February he told me that stocks were dead, and they gained over 14 percent. Then last week he said that the U.S. would lose its Aaa rating thanks to its debt.

And today, Warren Buffett's Moody's (MCO) went ahead and decided to kick sand in Bill Gross's face yet again. How so? Moody's affirmed the U.S.'s Aaa rating, arguing that "the U.S. economy's long-term resilience and key role in global affairs should bolster its ability to resume a strong performance following the current recession."

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