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.

We represent companies from around the world who say, "I want to look at Japanese companies. I want to invest in Japan."

We have built a very good company, and we're proud of it. We also recognize that much of it has been built on the shoulders of the thousands of employees and leaders who have worked here before us.

We were a land of opportunity. You can never have equal outcomes, but you can have equal opportunity.

But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.

A democracy is a compromise by its nature. It's not a dictatorship.

We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.