I don't think you're going to have one bank. Big companies aren't going to give us all their business. So they can pick and choose - by product, by country, whatever. We have major competition across every product in every place we operate.

It takes 10 years to get all the permits to build a bridge today. Ten years? What happened to the good old can-do America? Where is "We get it done, we work together"? We've become this bureaucratic, stifling environment. I'm not talking about violating environmental things - I'm talking about building a bridge, getting things going, getting people to work together.

I am not embarrassed to be a banker. I am not embarrassed to be in business.

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

Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it.

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

I also think you have to be very careful. I mean, the heritage of our company is very strong, and building some of these businesses into leading players is extremely tough. You and I can both build a trading business, and it looks like you're doing OK, and it looks like I'm doing OK. But, really, I am, and you aren't. It comes down to the quality of clients, quality of systems, quality of risk controls.