Subprime Mortgage Market Fallout and "Six-inch hooker heels." What?

Anyone else see the quote of the day from Inman News?  "Six-inch hooker heels" is how Bill Gross of PIMCO, the world's largest bond fund describes the attractiveness of mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) to the ratings agencies.

Actually, the whole article is pretty good.  Click here for some of my own views on the subprime market and how it will impact our housing market.