The question is how do you do it [more consumer protection] so that it actually works that way? And that takes analysis, and sometimes collaboration between government and business, to understand how that works.

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

Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that

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

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

Our commercial bank [JPMorgan] is only in the U.S. We are serving what you call SMEs - small businesses, private companies.

I agree with people who say we want more income equality; we want more consumer protection; and we want sounder banks. I agree with all that.