I advise other companies' CEOs, don't fall into the trap where you go, 'Where's the growth? Where's the growth?' Where's the growth?' They feel a tremendous pressure to grow. Well, sometimes you can't grow. Sometimes you don't want to grow. In certain businesses, growth means you either take on bad clients, excess risk, or too much leverage.

I don't think that [normalization] necessarily is going to damage the emerging economies.

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 agree with people who say we want more income equality; we want more consumer protection; and we want sounder banks. I agree with all that.

I don't mind paying higher taxes, because I've done quite well and I'm blessed to live in this country.

My operating assumption is we will always have very tough competition. And even with some European banks struggling right now, some of them can reemerge - and maybe even stronger.

We don't think there are cases where people were evicted out of homes when they shouldn't have been.