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.

After the tsunami in Japan, we were open for business. In fact, I flew there 10 days after the tsunami to show our support for the Japanese people.

I wanted to start by saying that the eurozone - there are two reasons they formed the European Union. One is for political peace and rationalization. And I think that's a good thing for a continent that went through hundreds of years of wars.

The transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially.

JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.

Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.

It's good for America when the rest of the world grows, because you can sell more to the rest of the world.