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 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.

It's moderate growth, with some parts of the world better than people think, and better than last year [2015].

I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.

When the government gets involved in pricing, I don't think it's the right way to look at a business.

You know, the benefit in life is to say, 'Maybe you made a mistake, let’s dig deep.'

Businesses can be opaque. They are complex. You don't know how aircraft engines work either.