I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.

We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.

All our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.

A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.

No one can forecast the economy with certainty.

I think the politics have gotten better in the United States, which makes it easier to pass legislation, budgets and treaties.

We've had fairly consistent financial results.