Pimco Co-CEO Mohamed El-Erian say the government bailout of American International Group "may help a little bit because it reduces uncertainty, but it's not going to be a huge help."
It is a well-constructed deal for the government, he said in a Wednesday morning interview on CNBC, with good interest rates and collateral pledges. For the company it cuts off "Armageddon scenario ... but it does so at a high cost for the company," he added. (See his full comments in the video).