The soft patch is behind us. We have a little more momentum. Employers are getting a bit more optimistic about the outlook and don’t need to cut costs like before.

—Jonathan Basile, an economist at Credit Suisse: via Bloomberg

The rich are always going to say…just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

—Warren Buffet: via Bloomberg

The Pimco Bravo fund, short for Bank Recapitalization and Value Opportunities, will acquire commercial and residential mortgage loans and other debt, according to a prospective investor who asked not to be named because the capital raising is private. Pimco plans to work with a loan servicer to renegotiate the terms of the acquired debt directly with creditors

—Bloomberg News on Pimco’s upcoming launch of a distressed mortgage fund