I Learn From All Our

I Think Normalization Is A Good Thing.

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 Don't Like The Term "universal Bank." The Chinese Government Legitimately Wants To Have A Very Strong Economy. When They Talk About Soe Reform, They Know That's Part Of It.

A Bank Is A Relationship. I Can't Desert You And Expect To Have A Strong Relationship Afterward. If I Told Someone, "i Know You've Been Buying Milk From Me And You Need Milk To Survive. But The Price Is No Longer $2 A Gallon. It's Going To Be $40 A Gallon. I'm Going To Bankrupt You." What Do You Guys Think Of Me? You Would Hate Us.

We've Seen The Volatility At Dollar-yen, U.s. Treasurys, Jgbs (japanese Government Bonds), German Bunds.