We did not anticipate the political fallout from it. We definitely didn't need it and we paid it back the first day we were allowed to.

Companies that build scale for the benefit of their customers and shareholders more often succeed over time.

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.

I am struck that so many of our leaders in the U.S. forget how strong our country can be.

I hope the story of 2011 is that America gets its mojo back. You've got to remember that America has the best universities; it's got some of the best businesses. It's got an unbelievable work ethic, rule of law. The story of 2011 will be America blossoming again.

Look, in any system, you want highly ethical people who really understand issues to form policies and make tough decisions. You need all the right people in the room. But there's a general view in Washington now by many politicians that if you ever were on this side, you're conflicted for being on that side.

I don't think that [normalization] necessarily is going to damage the emerging economies.