Wilbur Ross, "There are almost too many opportunities"

By on February 15, 2009

Wilbur Ross, known for buying distressed assets, was interviewed by Bloomberg regarding the current crisis and where the opportunities are. Ross said it was ludicrous for the U. S. to have thousands of banks (around 8,000) and expected a round of further consolidation. Ross pointed out that consumers have lost $5.5 trillion of net worth which has had a drastic effect on spending. Ross stated, “this mess took years to build and it’s going to take quite awhile to fix.” Ross felt treasury bonds were currently in a bubble.



Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>