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.

We represent companies from around the world who say, "I want to look at Japanese companies. I want to invest in Japan."

If you were a corporation needing financial services, and I can give you something better, faster, and cheaper across 12 products as opposed to eight, that's business. I'm doing it because I'm serving you; I'm not doing it because I want to be universal.

I think the way NOW characterized Smith Barney is disgraceful. I am appalled that an organization like that would not have reserved judgment (until) making their own investigation.

When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!"

The term "too big to fail" must be excised from our vocabulary.

Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.