Wilbur Ross: Banking Over-Regulated

Posted by admin on Tuesday, March 14, 2017

Wilbur Ross Money Quote saying Over regulation didn’t stop banks from making poor decisions that weren’t regulated and we should stop regulations so bankers will become smarter. Wilbur Ross said:
 

 

“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” — Wilbur Ross

 

 

In this quote, Wilbur Ross seems to be arguing against increasing regulation in industries based on the example of commercial banking. He suggests that even though banking is heavily regulated in America, that did not prevent banks from making risky decisions that contributed to the financial crisis.

The best interpretation is that Ross believes more rules and oversight do not necessarily lead to better outcomes or protect against failures, and that industries should face less regulatory burden. However, others may counter that proper regulation, if done well, can help reduce risks and prevent systemic issues, even if it does not eliminate mistakes completely. It is a viewpoint that invites debate on how much oversight different sectors reasonably warrant.