Behind every billionaire there is a story!

Wilbur Ross Sees Bank Failures Ahead

Billionaire investor Wilbur Ross says the current market downturn differs from previous slumps in that no

American banks have yet failed this time, but he suggests that’s about to change.  I think that’s going to be the next wave, and coupled with problems in the commercial real estate market; I think they’ll be the next bubbles that burst,” the chairman and CEO of W. L. Ross and Company told CNBC’s “Squawk Box” in an exclusive interview.

He was asked about the risks to big banks.

“I think that the big banks won’t fail in the sense that they will go to zero and depositors would lose money,

read the rest published by CNBC here:

http://www.cnbc.com/id/23557115/site/14081545