A Quote by Wilbur Ross
If you think about it: a big bank in any country, what is it? Really, as an investment, it's a warrant on economy.
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This is one way that wealthy Americans could really contribute. They could put hundreds of millions of dollars into the infrastructure bank, be a good investment for them, for their children, for their grandchildren, and they would directly contribute to revitalizing a big sector of middle-class wages in America and making our country more productive, so that we could create more opportunity. But I think that we could get a lot of grassroots support from, like, local chambers of commerce and other things if they understood exactly how this infrastructure bank would work.
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
In early 2008, before the criminal greed of America's mortgage and investment bank industry nearly destroyed the world's economy, the balance sheet of the U.S. Federal Reserve stood at about $870 billion.
We don't think of ourselves as a regional investment bank. We think of ourselves as merchant bankers with clients all over the country.
The Central Bank should take into account other things as well: the stability of the bank system in the country, the increase or decrease of money supply in the economy, its influence on inflation.
Low interest rates are a big opportunity for investment. But the issue is that this money should go to the real economy, not the financial economy.
The UK is the number one destination in European Union for inward investment, the World Bank has ranked the UK as the sixth easiest place in he world to do business, so any organisation that makes promises about investment in the UK should live up to those promises.
Has Obama ever grown even a potted plant, much less a business, a bank, a hospital or any of the numerous other institutions whose decisions he wants to control and override? But he can talk glibly about growing the economy. Arrogance is no substitute for experience. That is why the country is in the mess it is in now.
Should we think about separating the investment banks from the commercial banks, a new Glass-Steagall? I would be really excited to see that. I think it would be great for the economy.
As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments.
Having taxed the economy so hard, it has created a big depression. So we have to create a tax system that could really help growth and investment that is the first thing.
What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is a middle man - someone who is here to match people who need capital with people who have capital - and not position ourselves at the center of that by taking big positions on a trading stance.
If you really think about the fabric of the United States, or the finance of any economy, finance is a true underpinning of what makes the economy great - if it can be done successfully, responsibly, and with a client orientation.
No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis.
One thing that's really interesting is not only the magnitude of the recent immigration into this country, but also its distribution and its investment in the country. About 9.3 percent of the population is now foreign-born [announced by the Census Bureau at over 10 percent a few days later]. What's really surprising is how well distributed those population groups are. Historically, we see new immigrants primarily on the coast and in a few big cities. I think the data are going to show a much wider distribution of the new population groups than we've experienced historically.
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