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" Washington, D.C., is the new Wall Street. No significant financial transaction of any consequence occurs without it. "
Wilbur Ross
Street
New
Financial
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" Each weekend I play at least one and maybe two sets of tennis a day. My doubles team was in the finals recently at my tennis club in Palm Beach and lost a tiebreaker after a three-hour match. I must confess, by the end of the three hours, I was relieved it was over. "
Wilbur Ross
End
Lost
Team
" 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
" 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
" A company not under sanction is just like any other company, period. "
Wilbur Ross
Like
Other
Period
" 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. "
Wilbur Ross
Work
Live
Long
" If you add up all the promises any politicians makes, the math doesn't work. "
Wilbur Ross
Politicians
Math
Work
" 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
" Believe it or not, Mexico has better treaties with the rest of the world than the Unites States does. "
Wilbur Ross
Mexico
Better
Believe
" 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
" 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
" 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. "
Wilbur Ross
Great
Know
Loss
" 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
More
" 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. "
Wilbur Ross
Political
See
Research
" China is the most protectionist country of the very large countries. They talk more about free trade than they actually practice. "
Wilbur Ross
Country
Talk
Free
" 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 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. "
Wilbur Ross
Good
China
Never
" 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
" Ships are a strange kind of commodity because they're very lumpy, very big individual units, but they're commodities. "
Wilbur Ross
Individual
Strange
Big
" Hillary Clinton can't tell a good trade deal from bad one. "
Wilbur Ross
Bad One
Bad
Trade
" Absent some international interruption, there's no real justification for oil being more than $90 or $100 a barrel. "
Wilbur Ross
Justification
Some
Real
" 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. "
Wilbur Ross
Too Much
Big
Kind
" 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
" The fact that you're successful doesn't mean that you can't relate to working people. "
Wilbur Ross
People
Successful
Working
" Confrontational things, admission of error, admission of defeat, restructuring, laying people off - those are not American ideals. "
Wilbur Ross
Things
Defeat
American
" If people know you have the big bazooka, you probably don't have to use it. "
Wilbur Ross
You
Big
Know
" 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
" There's trade, there's sensible trade, and there's dumb trade. "
Wilbur Ross
Sensible
Dumb
Trade
" 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
" 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