I've always wanted to help build a better society and build a better company, and I always wanted a healthy, vibrant company, a healthy, vibrant society. We take care of our people, we provide them with opportunity. But I've always believed business is here to serve your clients, your shareholders, your communities. If we do this well, everyone benefits. We have to do a good job for all of them.

If you were a corporation needing financial services, and I can give you something better, faster, and cheaper across 12 products as opposed to eight, that's business. I'm doing it because I'm serving you; I'm not doing it because I want to be universal.

That's probably good, all things being equal, for emerging markets, not bad, even though it may not be great for all their currencies.

We've had fairly consistent financial results.

As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."

Usually, something that is fairly expected is already factored in. I also think that you have to think that America is raising rates because the economy is getting stronger.

On Wall Street, there is no "Wall Street"; there are individuals.