I want Japan to think and say that we are better off for JPMorgan having been here through thick and thin.

You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled, It could have been much better.

Europe is the most complicated place, in my opinion.

It might be harder for us to charge a higher interest rate, like they do, so it might not be as profitable for us. But we can either compete or partner, like we've announced with On Deck, which does some of the stuff we just spoke about.

I think the politics have gotten better in the United States, which makes it easier to pass legislation, budgets and treaties.

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.

There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.