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" 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
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" NAFTA is an ancient treaty. "
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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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" 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. "
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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. "
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" I believe if we and the Mexicans make a very sensible trade agreement, the Mexican peso will recover quite a lot. "
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" If you add up all the promises any politicians makes, the math doesn't work. "
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" We'll be aggressive on trade because we know that deals that have been made historically have resulted in the great loss of manufacturing jobs, a great amount of closed manufacturing businesses. We don't want that to continue. "
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" 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. "
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" 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. "
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End
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" There's trade, there's sensible trade, and there's dumb trade. "
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" 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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Outside
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" The fact that you're successful doesn't mean that you can't relate to working people. "
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People
Successful
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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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" 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
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Train
" 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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" 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. "
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Last
Negotiation
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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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Serious
I See
Myself
" Absent some international interruption, there's no real justification for oil being more than $90 or $100 a barrel. "
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Justification
Some
Real
" A company not under sanction is just like any other company, period. "
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Like
Other
Period
" The way we'll get more jobs is by creating new industries, new companies, businesses that are higher tech and therefore can compete. "
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Creating
Way
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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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" 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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Currency
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" 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. "
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" Hillary Clinton can't tell a good trade deal from bad one. "
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Bad One
Bad
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" 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
" 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. "
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Think
Government
Cloud
" 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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Only
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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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