You have your own culture and your own ways of doing things. I hope Japan continues on this path.

We have built a very good company, and we're proud of it. We also recognize that much of it has been built on the shoulders of the thousands of employees and leaders who have worked here before us.

It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.

My guess is the big Chinese banks will be in 100 countries by then. They will have very sophisticated operations, and they may very well have bought banks around the world in countries that allow it. I mean, I don't think the American government would allow them to buy JPMorgan. But they will be able to buy a sizable big bank in the U.S. at some point. Whether they do or not, or if it's allowed or not, I don't know.

If the economy grows, housing gets better, quicker.

You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.

As countries get wealthier - all of them, together - you're going to have financial assets. That is a good thing. You could argue the assets were traded too much, or that they're too highly valued, or too leveraged.