If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.

We invested in the downturn and we never stopped serving our clients.

When you walk into a store and you want to buy something, you give them cash and they sell it to you. But very often, you walk into our "store" and you want something - a credit card, maybe, or a loan - and very often the answer is "No," even if you're a large corporation.

I speak to lots of people around the world, and no one would tell you that 25 basis points will make a difference to them.

I agree with people who say we want more income equality; we want more consumer protection; and we want sounder banks. I agree with all that.

Part of the concept of the euro zone was to establish a common market. The banks were going to bank across all their countries like we bank across states. But that concept got killed for a whole bunch of reasons that I won't get into. That was a good concept, by the way. It may yet return, because there are huge economies of scale in banking. That's another thing people don't quite get.

Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.