No one can forecast the economy with certainty.

Not every company went bankrupt. Not every bank needed TARP [Troubled Asset Relief Program]. So I'm very proud that JPMorgan, throughout that time period, was completely steadfast. We bought Bear Stearns because we thought we were helping the situation. We didn't cut and run.

I do think there will be more Japanese companies expanding out of Japan, and there will be more cross-border flow from Japan.

We did not anticipate the political fallout from it. We definitely didn't need it and we paid it back the first day we were allowed to.

If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.

People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't.

We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.