We invested in the downturn and we never stopped serving our clients.

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

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.

If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.

I'm not going to name anybody, but I think there are about five to 10 global institutions that will emerge as our primary competitors across the board. They're adjusting to this new world, like we are.

Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.

Good regulation should be conducive to business and to customer protection.