Audio – “If you are stupid but really big…
“…the government will bail you out, if you are stupid but medium sized, you die,” said Wilbur Ross at the Reuters Restructuring Summit. “That’s going to encourage some very bad behavior by some big institutions.”
Ross, known as ‘the bankruptcy king,’ said he was disturbed by what he called ad-hoc government decisions about which firms to rescue.
“In some was, there’s a certain randomness to it,” he said.
Listen to his full comments here.