Near term it could get "messy," says Wilbur Ross, WL Ross & Company chairman & CEO, sharing his outlook on oil.» Read More
Moody's is punishing the wrong EU member by downgrading Ireland, Wilbur Ross Jr., CEO of WL Ross & Co., told CNBC Wednesday. If Moody's "downgrades enough people recklessly, nobody will be able to access the public markets in 2013. I think it's a ridiculous idea."
With Ireland's bank stress test results coming out on March 31st, the announcement of a possible European Central Bank liquidity chess move has the markets bracing for bad news.
Faced with the threat of massive bond defaults, state and local governments have taken proactive steps to deal with their problems and are thus likely to avoid disaster, investor Wilbur Ross told CNBC.