Wilbur Ross Comments on Economy/Regulation

• Posted by ToddSullivan
• on June 29th, 2009

Wilbur Ross talks about the US economy.

Couple of notable quotes:

“I can’t even think ten years down the road much less make predictions for that time frame”. Said in response to a question regarding predictions that the US economy is stagnant for the next ten years

Regarding consumer sentiment:
“Yes, it has risen three consecutive period but look where it is in absolute terms, its not at a very happy point in absolute terms.”…meaning it is still historically low

Regulation:
“You can’t really legislate against people making mistakes”

The old wall street model was partnerships:
“Participants had unlimited individual liability and that is a much better policeman that some kids out of college trying to catch a Madoff”

On the Gov’t:
“What worries me is they are trying to do too much too fast, you can’t fix everything overnight”

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