I'm A Really Big Believer

Remember That Banks Aren't Markets. The Market Is Amoral. The Market Doesn't Care Who You Are. You're A Trade To The Market. The Market Will Sell You If They Think You're Riskier. Banks Didn't Do That

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.

[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.

I'm Not Going To Name Anybody, But I Think There Are About Five To 10 Global Institutions That Will Emerge As Our Primary Competitors Across The Board. They're Adjusting To This New World, Like We Are.

Economies Of Scale Are A Good Thing. If We Didn't Have Them, We'd Still Be Living In Tents And Eating Buffalo.