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 do want the tax system to be efficient and be conducive to growth, which it is not.

No one can forecast the economy with certainty.

I don't think you're going to have one bank. Big companies aren't going to give us all their business. So they can pick and choose - by product, by country, whatever. We have major competition across every product in every place we operate.

The best thing to do is muddle through and maybe, over time, create a solution of that, if someone really wanted to exit, the legal basis on which you could exit. Because right now there almost doesn't exist one.

I do believe that some of these regulations made the markets more volatile, and it remains to be seen how bad that can be.

Look, in any system, you want highly ethical people who really understand issues to form policies and make tough decisions. You need all the right people in the room. But there's a general view in Washington now by many politicians that if you ever were on this side, you're conflicted for being on that side.