It's offensive to me to be called a cost cutter.

JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.

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.

I think one could argue that there's more political input into the regulatory side, and on the regulatory side there seem to be fewer people with financial and banking experience - there are more lawyers, academics, economists, maybe politicians now.

I have gotten disturbed at some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive.

My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years.

It's good for America when the rest of the world grows, because you can sell more to the rest of the world.