Emerging From the Crisis

Mohamed El-Erian,co-CEO and co-Chief Investment Officer of PIMCO,feels that the U.S. financial rescue plan is the right plan.This is the appropriate response.The financial authorities need to act with overwhelming force.It's the right move in terms of design.We're starting to see the markets heal.The plan is necessary and sufficient,but the damage is so deep,you don't turn on a dime.It's gonna take time.The measures are coming in at every level of the capital structure.Institutions will have to re-tool,Mr.El-Erian thinks.