We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.

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

Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.

You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.

We use technology to make it cheaper, better, and faster for the client. And then if you have the most flow, you can win. Now, having said that, Silicon Valley wants to take on this business. They think they see an opening.

I think the Republicans have really thoughtful financial policies, and I'm more in the middle on taxation.

Our plate is full. We have a lot to do building our company organically and that is our key focus.