with us now, wilbur ross, w.l. ross chairman and ceo.g toward the fire and not away from it. let's go macro to start. why do you do that? how does it work so well for you? >> i don't know how to do anything else. liz: genetic, isn't it. >> don't have much choice. liz: talk about what you're doing these days. there are regions right now, not specifically sectors but regions you're looking at you find extremely attractive. >> we're particularly looking at southern europe. as you know from prior shows we've been looking at it for a quite a while. we think make now is time to do something particularly in a place like greece. i'm impressed they're hitting the long-term debt market for the first time in quite a few years because they already achieved getting a primary surplus. namely a budget surplus before debt service. if they can bring the cost of debt service down and get access to the market, you have a whole new ballgame. david: by the way it was only two years ago, 2012, when a 10-year greek bond was yielding 28%. >> that's right. david

wilbur ross isn't convinced our solution is much better than the french plan a few centuries ago. aving you. >> good to be on. neil: i argue, all kidding aside, there is no way to artificially force this issue and to force the math in your favor. >> well, i think this is as irrational as obamacare. the fact is government can't create real projects that solve real problems. neil: i always wondered too, wilbur, if you're adding this burden to businesses, whether it is talking about pay, pay women more in the work place or, first of all i would suggest the white house consider doing that within its own outfit, but raising minimum wage, demanding more overtime, and then taxing the hell out of the rich to get your way to forcibly narrow that gap, is it really moving the needle, or is it making it tougher for businesses to ever hire people? >> well, it may help a few people get a little more out of their jobs but it is going to cost jobs. so fewer people will have the jobs. so all it is really doing is moving one person up a little and another one down a little. i don't see how that is a

wilbur ross likes them.est, not surprising because he has a lot of skin in the game. he is ceo of new york bank corp, the largest community bank in the country. good to see you. i wish it could be under better circumstances considering the market. do you think this market selloff will make things better or worse for the bank reporting coming up? >> i don't think it affects the bank reporting. i think the idea there could be a confluence of negative discussions around either earnings or other things, there are many things -- david: because expectations are already pretty low for the banks. >> yeah. david: they're expected to be down close to three%% for the quarter. -- 3% for the quarter. >> adjustments in the market are highly probable and anticipated for some time. what is the trigger? confluence of negative statements or negative effects and that could easily be the case. david: what are those events and specifically why are they bothering the big banks and not so much the community banks? >> community ban

the reaction of the way king opened, a profitable company is notable than when you saw wilbur ross cancel a deal? do you think the window will be shut or we will be satisfied with ipos and hype comes down. >> i think king was a special case. that was very confusing to investors i talked to. basically like investing in a movie company one hit movie in the market and you don't know what's coming next and numbers are already turning and not a surprise. even the earnings, it could disappear when people get bored of the game, they're likely to. overall, there are quality companies, should be able to go public at good prices but not the spectacular prices a lot have seen. but they are likely to get more selective about that. >> before we go, you say this correction could have more steam to it. you how much? >> looking back a cyclicly adjusted pe ratio and gdp to revenue and others, what you find in the stock market historically very very expensive now. always in the past 100 years, when we've hit levels like this, the performance for the next 10 years have been lousy. doesn't mean you will get

wilbur ross.ood stuff. >>> coming up more evidence that the government is keeping secrets from the american people. this time it is the va's turn. you will want to hear this story, shocking. >>> we kick off our cash challenge with a couple from colorado who will share their story with us about going credit card-free. you can too. thumbs up. ♪ >> without credit cards? >> i think it would be difficult, with all the technology that we have today, not having a credit card would be a really difficult thing. >> could you do it? >> it is impossible. en fees on ? that's right, no hidd fees. it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but