We've seen the volatility at dollar-yen, U.S. Treasurys, JGBs (Japanese government bonds), German bunds.

Europe is the most complicated place, in my opinion.

I think immigration has been one of the vital things about the growth of America. I'm the product of grandparents who all immigrated from Greece. I hope eventually we have proper immigration.

The Trump administration's economic agenda is the right agenda. Corporate taxes have been driving capital and brains and companies overseas for a decade. It has caused huge damage in investment and jobs and productivity. It was a mistake. We have to fix it. Counterintuitively, that usually helps middle-class wages, and lower-class wages, and job formation.

We take smaller companies and middle-sized companies, all around the world, and we do currency exchange for them; we raise bonds and equities for them; and we do inventory finance, trade finance, and custody of assets.

I know the President [Barack Obama]. I like him and respect him. That does not mean I agree with all of our government's policies, whether they come from Democrats or Republicans.

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.