There is a lot of focus on that first rate move, and I'm not sure how important that is.

You know, the benefit in life is to say, 'Maybe you made a mistake, let’s dig deep.'

I've been regulated my whole life. We have progressive taxes. It's not a free-market free-for-all. I completely understand that society has a perfectly legitimate right to put in structures and regulations and rules that make it fairer, better, cleaner.

I haven't studied it deeply, but the American banks started the crisis with far more capital and what I would call "good liquidity." The riskiest funding is unsecured wholesale funding. It's the most fickle. Not repo, which the government focused on, too. Unsecured. JPMorgan Chase had almost none of that - virtually zero.

We have a lot of people who are Republicans, a lot of people who are Democrats, and it's not just because of business reasons.

Just because we're stupid doesn't mean everybody else was.

We, Americans, have the best country on the planet. We have schools, universities, food, water, energy, peaceful neighbors, low corruption, you name it, deepest and widest capital markets. That doesn't mean we shouldn't identify problems. We don't have a divine right to success.