After the tsunami in Japan, we were open for business. In fact, I flew there 10 days after the tsunami to show our support for the Japanese people.

The government has the right to change laws and rules and regulations.

The question is how do you do it [more consumer protection] so that it actually works that way? And that takes analysis, and sometimes collaboration between government and business, to understand how that works.

The transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially.

It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.

My operating assumption is we will always have very tough competition. And even with some European banks struggling right now, some of them can reemerge - and maybe even stronger.

I completely agree with the concept that American citizens shouldn't expect that a failure of a bank would cost them money, or that it would hurt the economy.