The yen is trading where it's trading because people are guessing about people's future interest rates, dollar and yen and about the future growth potential of the economies. And, if this policy works, then the yen will probably strengthen.

Any good job is a good job. This whole concept of a dead-end job? It's not true. I've heard it my whole life. Jobs lead to dignity. If you're good at the first, then you can get the second. Jobs lead to household formation. Jobs are a better solution for society.

The best way to look at any business is from the standpoint of the clients. So there are these certain basic things that aren't going to change. Companies are going to have needs for equity, debt, advice, FX, and derivatives. Individuals are going to have needs for auto loans, mortgages, something that looks like a deposit account, and the ability to send money to people. Those things aren't going to change.

The government has the right to change laws and rules and regulations.

Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.

It's offensive to me to be called a cost cutter.

I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.