Bill Gross (PIMCO) chastens politicians, central bankers, and financial managers.

[CRH]

Bill Gross of PIMCO has chastened the President, congress, central bankers, financial managers, the government CPI and more, in a conference at Treasury ...

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http://www.cnbc.com/id/41387362

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Gross also takes central bankers to task for 30 years of currency devaluation used to mask reckless spending and burgeoning debts and deficits.

He outlines four strategies “devils” at central banks use to escape from deficit-laden balance sheets: Giving “haircuts” to bond holders in the form of lost principal on government debt; devaluing currency to cheapen exports; using CPI numbers that help mask the real levels of inflation; and imposing negative real interest rates and penalizing savers, pension funds and insurance companies with returns lower than inflation.
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And of his own profession he adds ...

As a profession we have failed miserably at our primary function—the efficient and productive allocation of capital: The S&L debacle of the early 1980s, the Asian crisis, LTCM, dotcoms, subprimes, Lehman and the resurrection, instead of the reformation, of Wall Street, are major sins of the modern era of money. Hang your heads, moneychangers. And no, it is not yet time to move on, as many banking CEOs suggest. How can bond traders make ten, one hundred, one thousand times more money than an engineer or social worker given their dismal historical performance? Why is it that some of today’s doctors are using food stamps while investment banking executives complain about millions of dollars in compensation that might be deferred in case of a future bailout?
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He talks more about maturity extension, safe spreads, as well as bond markets strategies that need to be 'exorcized' from model portfolios, in favor of better risk/reward alternatives.