Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things; then we'll buy them.

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.

Japan, Europe, [and] America probably [are] better than last year [2015], not China.

I hope the story of 2011 is that America gets its mojo back. You've got to remember that America has the best universities; it's got some of the best businesses. It's got an unbelievable work ethic, rule of law. The story of 2011 will be America blossoming again.

That's probably good, all things being equal, for emerging markets, not bad, even though it may not be great for all their currencies.

I want you to say to me right from the start, "We are here to serve customers. We're not here for me to make a lot of money. We're not here to bet on interest rates or credit spreads. We are here to serve our customers really well over a long period of time, and that's how you build a successful business." And so I want to see that, too, you know?

If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.