My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years.

All businesses tend to pass costs onto customers.

Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.

I think if we had another set of policies for - not the crisis years, but after that, that we might be growing faster. But we didn't. And some of that was Republicans' [fault], by the way.

My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, "Let's digitize it and have one vault." Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before.

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

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.