If you think about it: a big bank in any country, what is it? Really, as an investment, it's a warrant on economy.

One of the problems with industries that have been in relatively long-term declines is that, very often, the managements in those industries develop a kind of loser mentality. And when you ask them what's wrong with the business, they'll point to extraneous forces.

Confrontational things, admission of error, admission of defeat, restructuring, laying people off - those are not American ideals.

Wilbur Ross Quotes