“Billionaire investor Wilbur Ross Jr. tells Newsmax that the U.S. government “seems to hate” big banks and is imposing new regulations placing them at a competitive disadvantage.
And while Ross doesn’t see the European debt crisis leading to disaster, he says several EU nations have “dysfunctional” economies that must be reformed to deal with the crisis.
In a wide-ranging exclusive interview with Newsmax.TV, Ross, the chairman and CEO of WL Ross & Co., also said:
• Gridlock will keep its hold on Washington if the Obama administration remains determined to engage in “class warfare.”
• Inflation will pose a long-term problem if the federal government continues to debase the currency with deficit spending.
• A new recession is unlikely.
• S&P’s downgrading of the United States’ credit rating is “silly.”
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