I'm a really big believer - this is not a statement about President [Barack] Obama, but whoever is president - that good policy is really important.

I don't think you're going to have one bank. Big companies aren't going to give us all their business. So they can pick and choose - by product, by country, whatever. We have major competition across every product in every place we operate.

Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.

There is a lot of focus on that first rate move, and I'm not sure how important that is.

The toughest are people mistakes, when you put the wrong person in a job. Sometimes you're too slow to move them out. Or not getting the right people involved to solve a problem, or doing something out of anger; you learn, just don't do that. But I'd have to say the Whale was one of them, and I would also have to put Bear Stearns and Washington Mutual on the list at this point.

It's good for America when the rest of the world grows, because you can sell more to the rest of the world.

Companies that build scale for the benefit of their customers and shareholders more often succeed over time.