I Think Immigration Has Been One Of

I Learn From All Our Major Competitors, Whether They're In Or Out Of The U.s. Wells Fargo Is Very Actively, Very Aggressively, And Very Successfully Building Its U.s. Investment Bank.

Companies That Build Scale For The Benefit Of Their Customers And Shareholders More Often Succeed Over Time.

The Best Way To Look At Any Business Is From The Standpoint Of The Clients. So There Are These Certain Basic Things That Aren't Going To Change. Companies Are Going To Have Needs For Equity, Debt, Advice, Fx, And Derivatives. Individuals Are Going To Have Needs For Auto Loans, Mortgages, Something That Looks Like A Deposit Account, And The Ability To Send Money To People. Those Things Aren't Going To Change.

Companies Are Returning A Lot Of Money To Shareholders Through Dividends And Buybacks. And A Lot Of People Say That's Not A Good Use Of Capital. I Think That's Normal Reallocation Of Capital.

[that Is] Hard To Predict, [it] Could Be Either September Or December [2016] I Personally Think The Sooner The Better Because That Would Be A Good Sign That The Fed Believes The Economy Is Significantly Stronger.