We've made a huge effort globally and in the US, in getting kids jobs. This is one piece. The South Bronx and inner-city schools need it more than most. It's our hometown; JPMorgan Chase banks a lot of people here. If you see the school, it works. Kids all getting jobs, they're smiling, they're proud of themselves. That's what we need to do in inner-city schools.

Banks also have to say no to customers. We can't always give clients what they want; it may not be in the client's best interest.

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.

A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.

JPMorgan is a very good franchise. And the way you should look at a franchise, a business, is from the standpoint of the customers.

I think one could argue that there's more political input into the regulatory side, and on the regulatory side there seem to be fewer people with financial and banking experience - there are more lawyers, academics, economists, maybe politicians now.

A democracy is a compromise by its nature. It's not a dictatorship.