Banks Also Have To Say No To

Finance Went From Being A Small Business, Effectively, To Being A Big Business. In Part, That's The Growth Of The World's Wealth. That's Called Savings.

No One Can Forecast The Economy With Certainty.

You've Seen Certain Credit Type Products That Are Going To Be In Nonbanks, Like Sophisticated Clo [collateralized Loan Obligation] Tranches And Stuff Where The Capital Charge Is So High That A Bank Simply Will Not Own It. Someone Will Buy It, Hedge It, Trade It. But It Won't Typically Be A Bank.

On Wall Street, There Is No "wall Street"; There Are Individuals.

I Don't Think That [normalization] Necessarily Is Going To Damage The Emerging Economies.