Supposedly PIMCO is preparing for a busy summer...

[pmbug]

...
There are rumors that major financial institutions are cancelling employee vacations in anticipation of a major financial crisis this summer. The following are a couple of tweets quoted in a recent article by Kenneth Schortgen Jr....

Todd Harrison tweet: Hearing (not confirmed) @PIMCO asked employees to cancel vacations to have "all hands on deck" for a Lehman-type tail event. Confirm?

Todd M. Schoenberger tweet: @todd_harrison @pimco I heard the same thing, but I also heard the same for "some" at JPM. Heard it today at a hedge fund luncheon.

As Schortgen points out, these are not just your average Twitter users....

Todd Harrison is the CEO of the award winning internet media company Minyanville, while Todd Shoenberger is a managing principal at the Blackbay Group, and an adjunct professor of Finance at Cecil College.

...

http://theeconomiccollapseblog.com/...-crazy-summer-for-the-global-financial-system

It's not like Bill Gross (head of PIMCO) is well connected or might have some better handle on what's happening than the average Joe. /extreme sarcasm

 

[ancona]

Well, we have only been discussing the coming collapse for a couple of years now. so it finally goes mainstream. This should be interesting at the very least.

 

[DCFusor]

Toddo is not known to be a BS artist. He's one of the few honest info brokers out there, in fact, on my very short list. He doesn't know everything, but has one of the better feels for the tape and knows what he knows.

Edit:
Another is Ken Polcari, a floor trader often on bloomberg TV. He's like the explosives expert wearing that tee shirt - if you see me running, you'd better catch up!

 

[ancona]

With all the recent talk about MS and GS, perhaps one of the elephants is going down?