In a video on Bloomberg labeled under Senator, “Dodd Says Bernanke Committed to Use `Tools Available,” Bloomberg actually features Wilbert Ross Chairman, WL Ross & Company.
Notable Quotes:
Wilbur Ross:
“Half of all new property listings in California are now foreclosures.”
Bloomberg Anchor:
“Wow, that’s scary.”
Wilbur Ross:
“People were using there home as an ATMs but they were really using it as a borrowing type ATM to consolidate debt… but now that’s gone.”
Bloomberg Anchor: “Can Fed Cuts help?”
Wilbur Ross: It helps in lowering borrowing costs for banks and lowering the resetting interest rates on mortgages. It does not help in liquidity. Liquidity is a physiological phenomenon. For years, every lender was lending to everyone. Now, every lender is lending to no one. Even able borrowers.
Monterroza Research 