Wilbur Ross on Regulations' Impact on Financials and 2012 predictions
Billionaire Investor Wilbur Ross was on FOX discussing why government regulations are hurting banks and lending, what is needed in EU and what are his predictions for year 2012. Here are the highlights and the link to the video:
· Too many regulations keeping environment uncertain and frightening for the bankers · This will impact loans in the consumer sector which is in the most need of the credit
· Do not expect 2012 credit crisis but see banks to be afraid to put money out for small loans in the consumer sector where protection bureau will function most – we need more mortgage lending, we need credit card lending to keep the economy going
· Because of this tight lending economy will stumble along in 2012.
· On EU crisis – IMF will come up with solution to EU union. EU needs 2 things - a policeman for fiscal affairs and someone to right a big check. EU zone governing structure will take a long time to make this happen so in interim IMF will act as a policeman who can write a big check.
· Predictions for 2012: “US economy will stumble along slightly getting better as time goes. Recent go around with the congress yet again, (related to payroll tax extension), finding it incapable of doing any little thing that is needed to be done is unsettling to people. Business can adapt to bad news, it can adapt to good news but what very hard is to adapt to uncertainty and think the shenanigans in Washington certainly contributing to uncertainty”
Follow the link below to access the video
http://finance.yahoo.com/video/economy-18773128/wilbur-ross-on-regulations-impact-on-financials-27700204.html
Also check out:
Billionaire Investor Wilbur Ross was on FOX discussing why government regulations are hurting banks and lending, what is needed in EU and what are his predictions for year 2012. Here are the highlights and the link to the video:
· Too many regulations keeping environment uncertain and frightening for the bankers · This will impact loans in the consumer sector which is in the most need of the credit
· Do not expect 2012 credit crisis but see banks to be afraid to put money out for small loans in the consumer sector where protection bureau will function most – we need more mortgage lending, we need credit card lending to keep the economy going
· Because of this tight lending economy will stumble along in 2012.
· On EU crisis – IMF will come up with solution to EU union. EU needs 2 things - a policeman for fiscal affairs and someone to right a big check. EU zone governing structure will take a long time to make this happen so in interim IMF will act as a policeman who can write a big check.
· Predictions for 2012: “US economy will stumble along slightly getting better as time goes. Recent go around with the congress yet again, (related to payroll tax extension), finding it incapable of doing any little thing that is needed to be done is unsettling to people. Business can adapt to bad news, it can adapt to good news but what very hard is to adapt to uncertainty and think the shenanigans in Washington certainly contributing to uncertainty”
Follow the link below to access the video
http://finance.yahoo.com/video/economy-18773128/wilbur-ross-on-regulations-impact-on-financials-27700204.html
Also check out:
