If you look at Detroit, that mayor, it's been a train wreck for 40 years, the population has gone from 2 million to 700,000. This Mayor comes in, and he talked about streetlights, sanitation, jobs, policing, schools, affordable housing. He's doing it all, and it's growing for the first time in 30 years. Literally, one man. But that one man couldn't do it without business. And business couldn't have done it without a political environment where they wanted to improve things. If you had an antibusiness environment there, it would still be down there.

We, Americans, have the best country on the planet. We have schools, universities, food, water, energy, peaceful neighbors, low corruption, you name it, deepest and widest capital markets. That doesn't mean we shouldn't identify problems. We don't have a divine right to success.

It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.

The term "too big to fail" must be excised from our vocabulary.

If business doesn't thrive, it hurts America. We need improved relations, more collaboration, more thought and more consistency as we go about trying to make sure we have the best country in the world. Not scapegoating and finger-pointing.

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

A bank is a relationship. I can't desert you and expect to have a strong relationship afterward. If I told someone, "I know you've been buying milk from me and you need milk to survive. But the price is no longer $2 a gallon. It's going to be $40 a gallon. I'm going to bankrupt you." What do you guys think of me? You would hate us.