But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.

I have gotten disturbed at some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive.

We have built a very good company, and we're proud of it. We also recognize that much of it has been built on the shoulders of the thousands of employees and leaders who have worked here before us.

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.

Good regulation should be conducive to business and to customer protection.

We've seen the volatility at dollar-yen, U.S. Treasurys, JGBs (Japanese government bonds), German bunds.

Just because you have a good hand today doesn't mean it's good tomorrow. And some of the things we're doing may become very disadvantageous at some point.