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" If people know you have the big bazooka, you probably don't have to use it. "
Wilbur Ross
You
Big
Know
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" 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
Me
Phoenix
Kind
" 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? "
Wilbur Ross
Grow
Business
Think
" 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. "
Wilbur Ross
Act
Community
Congress
" 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. "
Wilbur Ross
Think
Will
Benefits
" 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. "
Wilbur Ross
Class
Want
America
" 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
More
" We're in a trade war. We've been in a trade war for decades. That's why we have the deficit. "
Wilbur Ross
Deficit
Trade
War
" 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. "
Wilbur Ross
Decisions
Evidence
America
" 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. "
Wilbur Ross
Only
Good
High
" The whole idea of a trade deal is to build a fence around participants inside and give them an advantage over the outside. So there's a conceptual flaw in that, one of many conceptual flaws in NAFTA. "
Wilbur Ross
Flaws
Inside
Trade
" 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. "
Wilbur Ross
Individual
Nations
Level
" Believe it or not, Mexico has better treaties with the rest of the world than the Unites States does. "
Wilbur Ross
Mexico
Better
Believe
" There are deep value opportunities in insurance stocks, which were beaten down because of their exposure to the subprime crisis, annuities, and commercial real estate. "
Wilbur Ross
Deep
Value
Real Estate
" Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things. "
Wilbur Ross
Things
Banking
World
" 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. "
Wilbur Ross
Currency
Country
Back
" If you think about it: a big bank in any country, what is it? Really, as an investment, it's a warrant on economy. "
Wilbur Ross
You
Bank
Investment
" 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
" Shale gas, if left to flourish, could create several hundred thousand more jobs. "
Wilbur Ross
Gas
Thousand
More
" 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. "
Wilbur Ross
Serious
I See
Myself
" 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. "
Wilbur Ross
Kind
Business
Loser
" If you add up all the promises any politicians makes, the math doesn't work. "
Wilbur Ross
Politicians
Math
Work
" My obligation is to disclose companies in which I'm an officer, a director, or an investor. "
Wilbur Ross
Investor
Director
Officer
" The fundamentals are the U.S. is going to end up being a net exporter of natural gas. That's going to be wonderful to help our balance of payments, reduce our dependence on a lot of countries that aren't so crazy about us, and change many, many parts of what goes on here. "
Wilbur Ross
End
Balance
Crazy
" 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. "
Wilbur Ross
Need
Why
Reason
" There isn't a bank in the world that could withstand a run. They all borrow short and lend long, regardless of what they say. "
Wilbur Ross
Short
They Say
World
" Absent some international interruption, there's no real justification for oil being more than $90 or $100 a barrel. "
Wilbur Ross
Justification
Some
Real
" It's important to have a sound idea, but the really important thing is the implementation. "
Wilbur Ross
Sound
Important
Implementation
" Confrontational things, admission of error, admission of defeat, restructuring, laying people off - those are not American ideals. "
Wilbur Ross
Things
Defeat
American
" I think at the end of the day, the real sick man of Europe is liable to turn out to be France, not Greece, not Portugal, not Spain, not Italy. The reason is France is very uncompetitive to begin with on a global scale, and the measures that Hollande has been putting in have been very, very negative from the point of view of economic growth. "
Wilbur Ross
Day
End
Growth
" 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. "
Wilbur Ross
Trade
You
Country