Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.
Wilbur RossBanking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.
Wilbur RossI see myself as a private-equity investor that helps rebuild companies. Restructuring is a cottage industry in that there aren't that many serious practitioners.
Wilbur Ross