Who is Wilbur Ross?

by Josh Israel – The “king of bankruptcy” is Donald Trump’s choice for Commerce Secretary. President-elect Donald Trump has named billionaire Wilbur Ross Jr. as his Secretary of Commerce. The man who Fortune called the “king of bankruptcy” and “dean of distressed investing” has been criticized as a “vulture” capitalist who made a fortune while running roughshod over workers and “shedding retiree benefits.” After a lengthy career leading the bankruptcy team at Rothschild Inc., Ross launched his own firm, WL Ross & Co., in 2000. Between 2001 and 2011, the Securities and Exchange Commission (SEC) determined, his company made more than $10 million from investors in improperly disclosed fees (for which the firm paid a $2.3 million civil fine as part of a settlement, but did not admit wrongdoing). Here are some other things to know about the man who would be in charge of economic growth and opportunity in the...

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