"The US Treasury is funding permanent deficits with...

Wilbur Ross, founder, WL Ross & Co

Published 9 years ago on Feb 02, 2013 16 minutes Read
Mark Manley

Sitting in his 25th floor office with a sweeping view of the Manhattan skyline, billionaire Wilbur Ross is the master of all he surveys, but he does not like what he is seeing. Ross’ composure is legendary, but this time irritation comes to the fore as he opines on the current state of affairs in the US. The King of Bankruptcy is not only frustrated by the regulatory overkill under the Obama administration, he is also worried that the US could lose its educational edge over the years. With visible agitation, he mentions, “The regulatory agencies are out of control and that is a huge problem for the economy.” Outside, his assistants’ phones ring incessantly, indicating that Ross continues to be a much sought-after financier and the distress hunter in him is very much on the prowl. Only, this time his sights are set far outside the United States. Financial services and energy continue to be his favourite hunting grounds and this quest has taken him across the Atlantic to the UK and Ireland and as far as China. Among his existing US investments, he is gung-ho on shale gas and believes a lower cost of energy will play an important role in reviving the US economy.