dan, with all due respect, IMHO gross' light is diming. he increasingly resorts to whining without addressing substance. he appears unwilling to take his head out of the sand when its comes to terrorism or the real world in which we live in today. i am personally sick and tired of those who attempt to blame every problem on so-called hate of america. in the past he had relevant things to say. recently, he has become more strident and somewhat contradictory to other pimco people like paul mccauley (sp ?) not sure how one can use his missives to make money. for him to even hint at "adjusting" (apparent belt tightening) is most hilarious.