Largest bond fund manager on the erosion of civil liberties

[swag]

Bill Gross and Paul McCulley of PIMCO have factually and emphatically slammed the Bush Administration time and time again on everything from profligate borrow-and-spending to the Social Security Rip-Off scheme. But today, in his August Investment Outlook, Gross, manager of PIMCO's "Total Return Fund" has some remarks on the erosion of civil liberties in an investment outlook piece entitled "They're Winning".

They're Winning

Preface:

Britons had been bracing to see how their vaunted sense of fair play and civil rights
survives the onslaught by attackers and the measures to combat it.

"Many civil liberties will have to be infringed to impose the requirement on all communities, including Britain’s Muslims, to destroy the terrorists before they destroy us,"
author Tom Bower wrote in The Daily Mail

Gross's concluding paragraph:

And oh yeah - about the title and the sub-quote. Bag searches at public events, airports, and subways? Fine. But let’s be mindful of more intrusive escalations down the road. If we sacrifice liberties and freedoms in the blind pursuit of "the terrorists" then we potentially give up more than our daily conveniences. We risk our free society. And if we lose that, then "they" will have won.

http://www.pimco.com/LeftNav/Late+Breaking+Commentary/IO/2005/IO+August+2005.htm