In mock congressional testimony, Bill Gross, co-chief investment
officer of Newport Beach-based Pacific Investment Management Co. (PIMCO), said today the U.S. should only nationalize banks as a last resort, that focus should instead be placed on shoring up lending and staving off foreclosures and, most importantly, that he shaved off his mustache at the urging of his mother.In "Hairy Lips Sink Ships," his March Investment Outlook posted on the PIMCO website, Gross explains, "One thing I've
