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" 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? "

Wilbur Ross

Out

Things

Train

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" A company not under sanction is just like any other company, period. "

Wilbur Ross

Other

Period

" 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. "

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

" China is the world's biggest exporter, but they're also the people with one of the highest tariffs on imports in the whole world. That seems a little bit oxymoronic. "

" I believe in the two-party system. "

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

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

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

" 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. "

" 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. "

" 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. "

" Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities. "

" 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

" NAFTA is an ancient treaty. "

" The way we'll get more jobs is by creating new industries, new companies, businesses that are higher tech and therefore can compete. "

Wilbur Ross

Creating

Way

" If you think about it: a big bank in any country, what is it? Really, as an investment, it's a warrant on economy. "

" 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. "

" 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. "

" I'm a very big proponent of cloud. We've used it a lot in private sector, and as far as we can tell, it is not only more efficient, it's probably also more secure for lots of very complicated technical reasons. I think it's a very important thing for government to do, and also to have systems that talk to each other. "

" We are the world's biggest importer. We need to treat the other countries as good suppliers. "

" 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

" 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. "

" 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 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. "

" 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. "

" 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. "

" 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. "

Wilbur Ross

Cyber

Transportation

" 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. "

" 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. "

" 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