Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor.

Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.

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

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

I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very successfully building its U.S. investment bank.

From my point of view, the American financial system - including banks and investment banks - is far safer because of capital and liquidity requirements. Despite all the turbulence so far this year, I don't think anyone's questioning our system. And that, obviously, is a good thing.

I wanted to start by saying that the eurozone - there are two reasons they formed the European Union. One is for political peace and rationalization. And I think that's a good thing for a continent that went through hundreds of years of wars.