Calls grow for U.S. to bail out homeowners, prevent foreclosures

The L.A. Times reports on the calls for the taxpayers to bailout homeowners.Here's a gem of a quote from America's biggest bond manager Bill Gross:

"If Washington gets off its high 'moral hazard' horse and moves to support housing prices, investors will return in a rush" to prudent government- and agency-backed securities, wrote Bill Gross, chief investment officer of the Newport Beach-based bond investment firm Pacific Investment Management Co., or Pimco, in a recent note to clients.

Bill Gross is one of the richest men in America and he wants you to help him with his large bond position.Do you think that's fair?