In a word, no.  But Michael White uses Bill Gross’ own words from his newsletters in a lengthy articulation of a wonderful story about how Bill Gross could “see the light” and do the right thing … by accepting equity for a big piece of PIMCO’s debt and leading the other bond holders to do the same.  Swamp Report thinks the bottom line is that equity for debt is inevitable, whether Bill Gross likes it or not.  (ml-implode.com)