Wilbur Ross Pulls the Trigger

Wilbur L. Ross, the investor who made billions turning around distressed steel and textile companies, will buy a 68.1% stake in First Bank and Trust Co.

The bank has 'good opportunities' to expand, Ross said in a Bloomberg Television interview. 'We view the whole financial services sector as a very interesting one.'

This is a very good sign for the banking sector, Ross knows how to crunch the numbers.

The big question remains, when does Carlyle Group step up to the plate and start spending some of its $40 billion in sideline cash, on the financial sector? Both, Carlyle co-founder David Rubenstein and Carlyle banking sector head, Randal Quarles, have said they see major opportunities in the banking sector.