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, told Reuters.
"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."So the closer we get back to separating the two, I suppose the better from the standpoint of reform."
Read more about this at http://www.reuters.com/article/2011/11/02/us-pimco-gross-idUSTRE7A10HA20111102?virtualBrandChannel=13760
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