More people are working, lending is up and savings are up. These are all positive signs for a strengthening economy.

We represent companies from around the world who say, "I want to look at Japanese companies. I want to invest in Japan."

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.

The term "too big to fail" must be excised from our vocabulary.

Part of the concept of the euro zone was to establish a common market. The banks were going to bank across all their countries like we bank across states. But that concept got killed for a whole bunch of reasons that I won't get into. That was a good concept, by the way. It may yet return, because there are huge economies of scale in banking. That's another thing people don't quite get.

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.

People always say to me, "What if it doesn't work?" If it doesn't work, we redouble our effort. We're not going to cry like a bunch of babies. We're going to redouble our effort.