Pass Debt Ceiling and Start Jobs Agency, Gross Says

PIMCO’s Bill Gross says the U.S. needs to pass debt ceiling legislation, and develop a government-directed investment bank that helps put people to work. “It’s what’s required during periods of time in which unemployment is high and the private sector refuses to invest going forward in the capital markets and in capital spending,” Gross tells Charlie Rose. “It’s a complete waste of people power and productivity to have a 9%-plus unemployment rate, to have people sitting down as opposed to standing up and working.”