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

Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.

[That is] hard to predict, [it] could be either September or December [2016] I personally think the sooner the better because that would be a good sign that the Fed believes the economy is significantly stronger.

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.

My operating assumption is we will always have very tough competition. And even with some European banks struggling right now, some of them can reemerge - and maybe even stronger.

I've been regulated my whole life. We have progressive taxes. It's not a free-market free-for-all. I completely understand that society has a perfectly legitimate right to put in structures and regulations and rules that make it fairer, better, cleaner.

If you have the choice, it's far better to say, "That person has the job, and they really don't need that much of my oversight." Maybe they don't need any of it.