People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't.

I think what you've seen them do recently in the markets is what most of us learn doesn't ultimately work. But I think everyone has to figure that on their own.

I want you to say to me right from the start, "We are here to serve customers. We're not here for me to make a lot of money. We're not here to bet on interest rates or credit spreads. We are here to serve our customers really well over a long period of time, and that's how you build a successful business." And so I want to see that, too, you know?

Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.

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.

Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things; then we'll buy them.

When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!"