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

One of the issues with some of these lenders is going to be, where will their provider of credit be when there's a crisis? That's why some of these smarter services, to support their operations, are courting more permanent capital. They want a source of longer-term funding that can survive a crisis.

It's moderate growth, with some parts of the world better than people think, and better than last year [2015].

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

People always say to me, "What if it doesn't work?" If it doesn't work, we redouble our effort. We're not going to cry like a bunch of babies. We're going to redouble our effort.

Japan, Europe, [and] America probably [are] better than last year [2015], not China.

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.