Wilbur Ross quotes

Wilbur Ross is an American businessman and investor known for restructuring failed companies. His expertise in distressed asset management earned him the nickname "King of Bankruptcy." He served as the U.S. Secretary of Commerce, playing a major role in economic policy. Here are 14 of his quotes:

You cannot just keep borrowing more and more and keep spending more and more without eventually having a day of reckoning. (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. View quote
Wilbur Ross
The other thing that was fascinating to me, was there was not a single hint of a protester anywhere there during the whole time we were there. Not one guy with a bad placard. View quote
Wilbur Ross
I am not anti-trade. I am pro-trade, but I am pro-sensible trade, not trade that is to the disadvantage of the American worker and to the American manufacturing community. View quote
Wilbur Ross
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. View quote
Wilbur Ross
Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things. View quote
Wilbur Ross
Each weekend I play at least one and maybe two sets of tennis a day. My doubles team was in the finals recently at my tennis club in Palm Beach and lost a tiebreaker after a three-hour match. I must confess, by the end of the three hours, I was relieved it was over. View quote
Wilbur Ross
If you want to do something to destroy consumer spending, just eat away at the middle class because the other problem we have is the structural problem of middle class America. View quote
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. View quote
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. View quote
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. (Wilbur Ross)
Shale gas, if left to flourish, could create several hundred thousand more jobs. View quote
Wilbur Ross
Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities. View quote
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. View quote
Wilbur Ross

Wilbur Ross

Wilbur Ross - Image
Occupation: American Businessman
Born: November 28, 1937
Quotes count: 14

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