Bill Gross has always been a star in the financial services industry. The credit crisis has elevated his status to a whole new tier. And that has the New York Times doing a big profile of the 65-year-old bond manager. There's lots of color here: How he gets ideas standing on his head in yoga and how he drapes his ties around his neck untied.

He seems to have become an integral part of the regulatory-financial complex that is taking shape. Clearly, he has emerged as a very public supporter of the administration, notably the PPIP, which has yet to prove itself. Of course Gross's firm, PIMCO, is vying to become one the chosen banks that will participate in the PPIP. It would be a shock, frankly, if PIMCO were not among the selected. Beyond that, you have to wonder what Gross's ambitions are. No doubt he has made some friends in the administration, which just might reward him someday with a high-ranking position somewhere--if that's what he wants.  

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