I Believe It's A Good Thing That

As Countries Get Wealthier - All Of Them, Together - You're Going To Have Financial Assets. That Is A Good Thing. You Could Argue The Assets Were Traded Too Much, Or That They're Too Highly Valued, Or Too Leveraged.

If You're Making All Your Money Simply Betting On Interest Rates, That's Not A Business. Flow Is A Business. On The Outside, They Look The Same For A While. But When You Dig Into Them, No, They Weren't Exactly The Same.

Their [american Banks] Big Issue Will Be If They Want To Deal With The Biggest Companies, Which Are Doing A Lot Of Business Overseas. How They Do That Is A Big Question. It's Almost Impossible To Build A Global Investment Bank From Scratch. If They Want To Do That, They Probably Will Have To Do An Acquisition.

Part Of [japanese Companies] Growing And Expanding Around The World Is ... Going To Help The Japanese Keep Their Lifestyles [despite Japan's] Demographics, As A Declining Population, And [to] Make It More Conducive To Women To Go To Work, I Think, Is A Plus.

Not Every Company Went Bankrupt. Not Every Bank Needed Tarp [troubled Asset Relief Program]. So I'm Very Proud That Jpmorgan, Throughout That Time Period, Was Completely Steadfast. We Bought Bear Stearns Because We Thought We Were Helping The Situation. We Didn't Cut And Run.