A Quote by Wilbur Ross

Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things. — © Wilbur Ross
Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.
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?
There is no evidence that more regulation makes things better. The most highly regulated industry in America is commercial banking, and that didn't save those institutions from making terrible decisions.
There seems to be something in the zeitgeist, and maybe it's a function of - I'm no analyst, nor am I a psychologist - when you look at things and say, What if I could go back and change things? I think we live in a world right now where people are asking those questions a lot. What if we could go back and change what we did? How would we change the way we handled things in the Middle East, and how would we change things with the banking industry, and how would we change economic and educational issues?
As time goes on, you'll understand. What lasts, lasts; what doesn't, doesn't. Time solves most things. And what time can't solve, you have to solve yourself.
Innovation has stalled in the banking industry. While the rest of the world is in the digital age, banking remains stagnant. We are here to change this and bring banking to the 21st century. We will ensure our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience – different from anything they have experienced before.
It's a free country. I know we have a lot of regulations in the world right now in what we can and can't do. I would rather our people be responsible and not have to be regulated.
I grew up in that minority. I grew up in the South, in Roswell, Georgia, and it was heavily white, Baptist, conservative. And the idea that somebody would come there and say those things that I said created an atmosphere where some people would walk out, and suddenly they weren't in the minority. For an hour and a half, they were the majority. So I would argue that it does need to be said.
Unlike the visible and heavily regulated airborne emissions from power plant smokestacks, coal ash is largely unseen unless there is a major spill and, until recently, far less effectively regulated.
If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That's why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.
In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
I have the most ill-regulated memory. It does those things which it ought not to do and leaves undone the things it ought to have done. But it has not yet gone on strike altogether.
So the only problem that you have is actually switch things in the department, changing things, controlling things, putting it maybe under federal supervision, and if you fix the department, you'll fix the problems - with police corruption, with brutality, with evidence tampering, all those things.
But Chrysippus, Posidonius, Zeno, and Boëthus say, that all things are produced by fate. And fate is a connected cause of existing things, or the reason according to which the world is regulated.
Such regulations may, no doubt, be considered as in some respect a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments; of the most free, as well as or the most despotical. The obligation of building party walls, in order to prevent the communication of fire, is a violation of natural liberty, exactly of the same kind with the regulations of the banking trade which are here proposed.
Well I won't argue about the matter. You always want to argue about things. That is exactly what things were originally made for.
As far as the banking industry is concerned - and I am sure it must be true for various industries as well - is that the only thing that is constant is change. Your business models are changing, the customer demands are changing and the regulations are changing constantly.
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