Beware of PIMCO pubs-- they push their book.<p>Also, consider these comments:<p><i>You will note that missing from the chart is the $5.5 trillion in mortgages that the Uncle Sam has on their books, having followed Gross’ suggestion that the government make the GSE backing explicit instead of implicit.<p>Essentially, Gross is complaining that (amongst other factors) the government listened to him...</i>