I think what you've seen them do recently in the markets is what most of us learn doesn't ultimately work. But I think everyone has to figure that on their own.

I want Japan to think and say that we are better off for JPMorgan having been here through thick and thin.

Our commercial bank [JPMorgan] is only in the U.S. We are serving what you call SMEs - small businesses, private companies.

I do believe that some of these regulations made the markets more volatile, and it remains to be seen how bad that can be.

If I ran the whole place like it was my way or the highway, we would not be as good a company. I'm going to have mistakes - they'll be made on my watch and will embarrass me. But I'll also make sure the company learns from them so it can become a better company.

I wanted to start by saying that the eurozone - there are two reasons they formed the European Union. One is for political peace and rationalization. And I think that's a good thing for a continent that went through hundreds of years of wars.

All businesses tend to pass costs onto customers.