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" I think what we have to do is figure out how to make sure we get the benefits of improved technology and yet cope with the dislocation that it will inevitably produce in certain industries. "

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" Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going to be increase American exports. Get rid of some of the tariff and non-tariff barriers to American exports. "

Wilbur Ross

Last

Negotiation

Real

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

Wilbur Ross

You

Day

" The United States is the least protectionist country in the world but has the largest trade deficit, while other countries are highly protectionist and have huge trade surpluses. This cannot continue. "

" 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. "

Wilbur Ross

Think

Promises

" The E.U. is one of our largest trading partners, and any negotiations legally must be conducted at the E.U. level and not with individual nations. "

" China is the most protectionist country of the very large countries. They talk more about free trade than they actually practice. "

" I still like TIPS (Treasury inflation-protected securities), and I think a big opportunity is coming in the municipal bond market. "

Wilbur Ross

Think

Opportunity

" 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. "

" 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. "

" Hillary Clinton can't tell a good trade deal from bad one. "

" 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. "

" If trade deficits are good, why is China so pleased that they run a huge trade surplus? It's perfectly obvious that if China hadn't been such a huge net-exporter, it never would have grown at the rate that it did. "

" 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. "

" 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. "

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

" We're in a trade war. We've been in a trade war for decades. That's why we have the deficit. "

" It's important to have a sound idea, but the really important thing is the implementation. "

" 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. "

" I believe if we and the Mexicans make a very sensible trade agreement, the Mexican peso will recover quite a lot. "

" 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. "

Wilbur Ross

Crazy

Compliance

" 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? "

" Barring some national security concern, I see no valid reason to keep peer-reviewed research from the public. To be clear, by 'peer review,' I mean scientific review and not a political filter. "

" We think, over the long term, the real key to value of a bank is does it have true deposits from true long-term customers? People who actually know the bank, live in the neighborhood, work there, maybe have a mortgage there, credit card... That, to us, is the key to a bank. "

" Washington, D.C., is the new Wall Street. No significant financial transaction of any consequence occurs without it. "

" I believe in the two-party system. "

" Shale gas, if left to flourish, could create several hundred thousand more jobs. "

Wilbur Ross

Gas

Thousand

" I am not anti-trade. I am pro-trade. But I am pro-sensible trade. "

Wilbur Ross

Trade

I Am

" The fact that you're successful doesn't mean that you can't relate to working people. "

" 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. "

" 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. "

Wilbur Ross

Phoenix

Kind