Author

There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.

From Wilbur Ross

You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning.

From Wilbur Ross

Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.

From Wilbur Ross

I don't think there's anything inherently wrong with a bank being big. In fact, there are some good arguments about universality of geography that in theory, if you have all your eggs in one little community, and some big employer goes out, that could be your downfall.

From Wilbur Ross

The one term I don't like to be called is a 'vulture.' Because to me, a vulture is a kind of asset-stripper that eats dead flesh off the bones of a dead creature. Our bird should be the phoenix, the bird that reinvents itself, recreates itself from its ashes. And that's much closer to what it is that we really do.

From Wilbur Ross

I think it's natural for any manager to want to grow his business. The question is at what rate, and in what direction, and in what format?

From Wilbur Ross

Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

From Wilbur Ross

My wife Hillary sometimes accuses me of trying to reinvent the 19th century. In some ways she's right because I like things that I can understand and that aren't too complicated.

From Wilbur Ross

I see myself as a private-equity investor that helps rebuild companies. Restructuring is a cottage industry in that there aren't that many serious practitioners.

From Wilbur Ross

Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

From Wilbur Ross

Wilbur Ross

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