I know the President [Barack Obama]. I like him and respect him. That does not mean I agree with all of our government's policies, whether they come from Democrats or Republicans.

I hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other.

There are two types of depreciation. There is one where you're manipulating currencies. And that's not what Japan is doing.

Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it.

The government has the right to change laws and rules and regulations.

We're going to do the right thing for the company and our customers, all things considered.

The best thing to do is muddle through and maybe, over time, create a solution of that, if someone really wanted to exit, the legal basis on which you could exit. Because right now there almost doesn't exist one.