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" A company not under sanction is just like any other company, period. "
Wilbur Ross
Like
Other
Period
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" Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things. "
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" Hillary Clinton can't tell a good trade deal from bad one. "
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" One of the problems with industries that have been in relatively long-term declines is that, very often, the managements in those industries develop a kind of loser mentality. And when you ask them what's wrong with the business, they'll point to extraneous forces. "
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" I think partly the decline in the peso was due to worry about renegotiation of NAFTA, but I think we also need to think about some other mechanisms for making the peso/dollar exchange rate a bit more stable. "
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" The typical big Japanese company has somewhere between a third and 40 percent of its revenues coming from developing countries, and about a third of Japan's exports are also to the emerging countries, so in a strange way, Japan, which has very little internal growth, its big companies are a good way to play the emerging markets. "
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" The reality is if something were to happen that cost China jobs - like, if they upwardly revalued the currency a lot - those jobs aren't going to come back to the U.S. They would go to Vietnam; they would go to Thailand. They would go to whatever country was the lowest cost. "
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" I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs. "
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" If you add up all the promises any politician makes, the math doesn't work. Hillary Clinton's math doesn't work; Donald's math probably doesn't work. I think you have to listen to their campaign pitches more as symbolic, more as metaphors. "
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" Mexico has 44 treaties with other countries that make it very advantageous to do international shipping from Mexico rather than from the United States. "
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United
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" In many critical things, such as the very high purity of the aluminium we need in aerospace, we only have one producer. That's not a good formula. "
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" Many of the smaller banks have had to get to the point where they now have more compliance people than they have lending offices. That's crazy. "
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" If you add up all the promises any politicians makes, the math doesn't work. "
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Politicians
Math
Work
" China is the most protectionist country of the very large countries. They talk more about free trade than they actually practice. "
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Country
Talk
Free
" 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. "
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Act
Community
Congress
" Enforcement is a very important part of the administration strategy. We think that even our friendly nations should live by the rules, and if they don't, we will intend to enforce things against them. "
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Strategy
Important
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" I am not anti-trade. I am pro-trade. But I am pro-sensible trade. "
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Trade
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I Am
" Regulations don't solve things. Supervision solves things. If we could figure out that the subprime thing was a train wreck that was coming, where were the regulators? "
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Out
Things
Train
" NAFTA is an ancient treaty. "
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NAFTA
Treaty
Ancient
" 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. "
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" Shipping has a great oversupply of vessels that came from over-ordering a few years back. We think 2014 may be when it turns around. "
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" To me, the most terrifying form of warfare would be if there was some simultaneous cyber attack on our grid, on the banking system, and on our transportation system. That would be quite a devastating thing, and yet in theory, absent some real protective measures, that could happen. "
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Cyber
Transportation
Me
" It's important to have a sound idea, but the really important thing is the implementation. "
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Sound
Important
Implementation
" The rules of origin in NAFTA need some tightening. Rules of origin are what let material outside of NAFTA to come in and benefit from all the taxes and tariff reductions within NAFTA. "
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" 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. "
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" The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second country. You get picked apart. And you go with the third one. You get picked apart again. "
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" I still like TIPS (Treasury inflation-protected securities), and I think a big opportunity is coming in the municipal bond market. "
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" Part of the reason why I'm supporting Trump is that I think we need a more radical, new approach to government - at least in the U.S. - from what we've had before. "
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Need
Why
Reason
" The E.U., China, and Japan all talk free trade, and they all practice protectionism. "
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Talk
Practice
Free
" We're in a trade war. We've been in a trade war for decades. That's why we have the deficit. "
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Deficit
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" 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. "
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